Modest two-storey house that appears run-down and bland from the outside is earning its owners a whopping $230,000 a year
- This unique two-storey Brisbane home looks like any other on the outside
- Expected to sell for around $2million and earn its new owners $230,000 a year
- All thanks to its 22 fully furnished bedrooms which are individually let out
- Agent says there’s big demand from investors and tenants for similar properties
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.
Don’t be fooled by the exterior of this two-storey Annerley home, which looks very unassuming
The home has 22 bedrooms (one pictured), which will earn its new owners $230,000 a year
‘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 up to seven years.
The current owners are selling the investment property now valued at $2million, which is 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.
The 22 bedroom home (pictured) is expected to be sold for $2million within the next week
The 22 tenants pay $160-$180 rent a week have their bedroom and share four bathrooms
‘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 for almost 12 per cent return.
He currently has a 29 bedroom West End home on the market for around $3million, which earns around $280,000 a year.
Clive O’Kelly recently sold this 30 bedroom home (pictured) in Kelvin Grove for $3million, which will earn its new owners just under $300,000 in rent a year