Off Market Brisbane Property Opportunities Rochedale South

48 Morbani Road Rochedale South Qld 4123

Off Market Brisbane Property Opportunities Rochedale South which is around 18 kilometres South of the Brisbane CBD.

Whilst this property is located further from the Brisbane CBD, it gives a better return due to the lower price. The suburb is very good with a high number of new dwellings being built in the area effectively increasing the median house price.

48 Morbani Rd, Rochedale South

3 Bed 1 Bath

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THE LOCATION:

  • Located approximately 19km from the Brisbane CBD, Rochedale South is a northern suburb of Logan City and is one of the most affluent in the Logan City area. Having grown rapidly in popularity in recent years, the suburb offers a leafy feel, a fantastic lifestyle for active families and relatively affordable price point compared to many similar suburbs of Brisbane.  The suburb is also located a mere 40min drive to the beautiful beaches of the Gold Coast.
  • Rochedale South directly adjoins the Brisbane suburb of Rochedale, which achieved a median house price of more than $1,000,000 in 2017, rising further during 2018 to just over $1,100,000.  Comparatively, Rochedale South’s median house price is still an affordable $520,000.  The significant price difference between these two neighboring suburbs is somewhat of an anomaly, which has put Rochedale South in prime position to experience strong capital growth into the future, to close the price gap between these two neighboring suburbs.
  • The property is located less than 2km to the prestigious Redeemer Lutheran College, along with St Peters Catholic Primary School, both of which are attracting many young families into the area.  The property is also less than 1.5km to Rochedale South State School, along with C&K Community Kindergarten.
  • The popular Rochedale Fruit Markets with its high-quality fresh produce, and Rochedale Shopping Village with cafes, specialty shops and a Drakes Supermarket are also within 2km of the property.
  • A new modern Woolworths with adjoining specialty stores is currently being developed only 3km away, which is intended to provide additional shopping choices for residents of Rochedale and the surrounding suburbs.
  • The property is approximately 6km to Westfield Garden City, which was recently extended and is now one of the largest Westfield shopping centers in Queensland, accompanied by a variety of cafes, restaurants  and bars.
  • The property is less than 1km to Underwood Park, which offers an array of outdoor recreation activities and sporting clubs, along with vast play areas for children. It is a similar distance to the Priestdale Road ‘Dog of Leash’ park.
  • The existing South East Busway which provides direct access into the CBD is in the process of being extended to nearby Rochedale and Springwood.  This will further improve the suburbs connectivity into the CBD, which will help continue to drive the suburbs popularity.

THE PROPERTY:

  • Built in the 1970’s, this neat and tidy low-set brick / tile home has 3 x bedrooms, 1 x bathroom (with bathtub and separate toilet), along with large covered outdoor entertaining area.
  • The home has accommodation for up to 5 x vehicles (2 x in the covered carport, 1 x on driveway, 1 x on side accessway and 1 x in the shed).  Alternatively, the large fully secure colorbond shed could be used to store a boat, camper trailer, general equipment or a work space.
  • The property enjoys elevated parkland views from the rear of the home, looking over Priest’s Gully Park (owned by Logan City Council). 
  • The low maintenance 617m2 block is nice and flat in the front, with two usable sections of lawn in the backyard.  The first section adjoins the covered outdoor entertaining area and is  a great break-out space during BBQ’s with friends, with the lower terraced area perfect for children to play.  There are also gates in the rear fence providing direct access to Priest’s Gully Park.
  • Equipped with a Mitsubishi Reverse Cycle A/C to the living room and ceiling fans in all bedrooms.
  • Security screens installed on windows, along with new modern roller blinds installed throughout the home.
  • For protection and peace of mind, gutter guard has been installed around the roof, along with a subterranean chemical termite barrier installed around entire perimeter of house (by Rentokil).
  • New hot water system was installed in recent years.
  • There is also the opportunity to add further value to this home through a basic cosmetic freshen-up.
  • The home has been leased to long-term tenants currently paying $390 per week rent, with the opportunity to increase the rent further upon lease renewal.  The tenants have living in the property for 5 x years and would love to stay in the property if it was purchased by another investor.

Asking Price : $429,988

Current Rent : $390 per week

Return : 4.7%

This property will be cash flow positive, loan repayments at 100% finance @ 4.5% .= $366 per week. 

Suggested offer price of $420,000  This property price is inline with it’s valuation. Return is much stronger. 

If you would like more information please contact myself direct Alistair 0405 131 333  or email akelsall@investate.com.au

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