187 John Street, Maryborough, Qld 4650

Location, location, location.

An exceptional inner-city Maryborough investment opportunity comprising 16 flats across three adjoining titles, with the potential to increase the total to 18 flats, subject to the required approvals and fit-out.

The property comprises 187, 187A and 185A John Street, Maryborough, with the vendors also prepared to consider alternative acquisition structures, including 187 and 187A John Street as a combined purchase, or 185A John Street as a separate purchase.

Positioned close to Maryborough's shopping hub, hospital, schools, sporting facilities and the renowned Queens Park, including the nationally significant Gallipoli to Armistice Memorial, the property offers both convenience for tenants and a compelling long-term investment proposition.

The Opportunity:
Set across a combined 3,782m² north-facing landholding (approximately 0.93 acre) over three titles, the property currently provides 16 rental flats, comprising:
- 2 x 3-bedroom flats
- 13 x 2-bedroom flats
- 1 x 1-bedroom flat
The current rental returns exceed $250,000 per annum (*gross).

There is also potential to increase the accommodation to 18 flats, with services available and infrastructure in place to facilitate the fit-out of two additional flats, subject to the necessary approvals and requirements.

With the property identified as Medium Density Residential, the site offers investors the opportunity to hold and landbank the property for the long term while continuing to generate rental income, with future redevelopment potential STCA.

The combination of the substantial landholding, three separate titles and convenient inner-city location provides flexibility for an investor looking to acquire an established income-producing asset with longer-term development considerations.

Tenant Appeal:
The flats benefit from their proximity to many of Maryborough's everyday amenities, including schools, medical services, shopping, food outlets, fuel, sporting facilities and parkland.

A nearby bus stop provides an additional public transport option for residents.

The property is also positioned on John Street, one of Maryborough's main thoroughfares, providing convenient access towards Hervey Bay, the Fraser Coast's major coastal destination, approximately 25 minutes away by car.

A Long-Held Property:
The current owners have held these properties for decades and, following a reassessment of their priorities, are now looking towards retirement.

The John Street properties are being offered as a combined investment proposition, although the vendors may consider 185A John Street separately.

Key Features
- 16 currently operating flats across three titles
- Potential for 2 additional flats (*18 in total when completed), subject to approvals, connections and fit-out requirements
- Combined land area of 3,782m² across three titles
- North-facing landholding
- 187 John Street – 1,371m²
- 187A John Street – 1,389m²
- 185A John Street – 1,022m²
- Current annual rental returns exceeding $250,000
- 2 x 3-bedroom, 13  x 2-bedroom and 1 x 1-bedroom flats
- Flat configurations vary, including sleep-outs, living rooms and combined living/dining areas
- Each flat includes bathroom/toilet and kitchenette facilities
- Covered car parking
- Communal laundries and clotheslines
- Communal lawn areas
- Medium Density Residential zoning
- Potential to landbank and hold for the long term
- Potential future redevelopment STCA
- Vendors may consider alternative acquisition structures

Contact Rick Hose on 0417 980 363 for further information or to arrange an inspection.

While every effort has been made to ensure that the information contained in this advertisement is true and accurate, no responsibility is accepted for any errors, omissions, inaccuracies or misstatements. Prospective purchasers should make their own enquiries and satisfy themselves as to the accuracy of all information provided.

This property is being offered for sale without a listed price. A price guide and vendor expectations may be obtained from the listing agent. Any price bracket displayed by a third-party website may be generated by that website for functionality purposes and should not be relied upon as an indication of the vendor's price expectations. Prospective purchasers should contact the listed agent directly for further information.