Multiple Sources of Income in Superb Location

A solid investment that has stood the test of time right in a prime elevated location within a stroll of the CBD. “Vailima Flats” was built in 1934 and is a purpose-built block of flats in the Old English style designed by architect John Ahern.

There are five self-contained flats plus caretakers and off-street carparking. One of the flats has two bedrooms and four of the flats have one bedroom, all with bathroom, kitchen and living area. On the lower level is a communal laundry and a caretaker’s self-contained.

– Offered for sale for first time in 34 years
– Spring Hill postcode 4000 is same as the CBD
– Prime ridge location opposite St Pauls Cathedral
– Large corner block land holding of 359 sq.m.
– Off-street carparking for up to 4 cars
– Five flats with very high occupancy rates as keenly sought after
– Potential of extension of existing flats subject to regulatory approvals
– Listed as a local heritage place by BCC
– Bus stops to and from the city on doorstep
– Short walk to free Spring Hill loop bus service
– Set amongst quality residences along Union Street and St Pauls Terrace
– Stroll to Woolworths, offices, shops, Queen Street mall
– Gross rental $72,624 p.a., BCC rates $5304 p.a., Insurance $1484 per annum
– Multiple sources of Income with steady rental income stream