Lend Power Deal of the Fortnight – 32 Kent St, Kallangur QLD 4503
Our pick of the week this week is 32 Kent St, Kallangur QLD 4503. Bought by our clients almost a year ago for $351,200, this 3 bedroom, 1 bathroom lowset house sitting on 607sqm block presents marvelous potential for the following reasons:
1. Nicely presented and in decent condition – not much work required from day 1
2. Minutes walk to Kallangur Fair shopping centre, in close proximity to the upcoming University of Sunshine Coast at Petrie & The Mills precinct
3. Couple of value adds can be done around the house at later stage such as renovated kitchen, large power shed may be converted to Granny Flat subject to council approval
4. Currently rented at $345 per week with a gross 5.1% rental return with 23 groups showed up on first inspection and 4 applications! Lots of rental demand that’s for sure!
This property is a great example of lowset, set and forget while still having some value add that can be done later down the stage. Recent computer valuation shows property price is estimated at around $369,000 – about 5% CG in less than 12 months. In the current environment that’s a good steady growth 🙂
Kallangur is a suburb in Moreton Bay region located about 24km north west of Brisbane CBD. Due to it’s lower entry price, Kallangur has performed relatively well in the last 12 -18 months with a good mix of both investors and owner occupiers. The biggest driver around the area will be the upcoming University of Sunshine Coast at Petrie in 2020 as well as The Mills Precinct. We believe these two government funded project will readily transform the area
significantly over the next 10 years so presents excellent opportunities to enter right now.
Contact us today if you need assistance to find similar investment properties!