61-63 Mourilyan Road, East Innisfail, Qld 4860

This 925 sqm block features two freestanding timber homes from the 1950s era. They have been strata-titled but are owned by one investor so no body corporate fees. If you remove the clutter of day-to-day living, you are left with three bedrooms and a two-bedroom cottage with decent kitchens and serviceable bathrooms. They have been fenced to provide for individual private backyards and corner access into the rear carports for vehicles. If I didn't tell you they were on the one title you would just see two separate freestanding homes.

The land is sitting almost at the top of Mourilyan Road on a corner block, very close to town and completely away from any flood risk. Both tenants are on a month-to-month agreement and pay $210 and $240 per week. They have not had a rent increase since 2019. 

Both properties could use a little cosmetic work but neither appears to need anything major at this stage.

The numbers add up and the potential is to renovate the cottages and sell them separately, which can be done as a result of the strata title.

Contact Michael Skuse