There’s far more to this ordinary two-storey home that meets the eye.
Inside the home in Annerley, Brisbane 22 fully-furnished bedrooms earn its owners about $230,000 a year in rent, thanks to its unique features.
‘It’s a big home that was converted into bedrooms many years ago,’ Ray White West End owner Clive O’Kelly told Daily Mail Australia.
Most tenants are young professionals who wanted somewhere comfortable and secure to live. There are also few tradies there but not many students. They all pay between $160-$180 a week which includes everything, except food.’
With four bathrooms, two kitchens, ample parking, television and internet provided, most tenants are there for the long haul with some staying for up to seven years.
The current owners are selling the investment property, which is now valued at $2million.
It has attracted widespread interest from potential investors, according to Mr O’Kelly.
‘It will be sold within the next week,’ he told Daily Mail Australia.
Mr O’Kelly is an investment property specialist in managing multi-dwellings and boarding homes.
‘There is a huge demand for these properties from tenants, many of whom are your typical average Joe,’ he said.
‘All they need to move in is two weeks’ rent and bond. Everything is included and they don’t have to worry about paying for utilities.’
Mr O’Kelly sold a 30-bedroom investment property in Kelvin Grove in Brisbane’s north for $2.55m last week, which will earn its new owners almost $300,000 in rent per year at a return of almost 12 per cent.
He currently has a 29-bedroom West End home on the market for around $3million, which earns around $280,000 a year.
Source: www.dailymail.co.uk