One bed fixer-upper hits inner city unit market
9/368 Bowen Terrace, New Farm, is just a 15-minute stroll to the CBD.
Apartment hunters priced out of the inner city are in for a rare treat with the Public Trustee taking a one bedroom fixer-upper to auction in need of “a dramatic facelift”.
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The unit at 9/368 Bowen Terrace is in one of Brisbane’s hottest inner city suburbs, New Farm, just a 15 minute stroll to the CBD and the restaurant precinct at Howard Smith Wharf and Eagle Street.
The Public Trustee’s office has stated that it will not be accepting any offers before auction, with the one bed, one bath, one car space unit set to fire up the auction market on February 6 at 11.30am.
It has a covered balcony.
Neat and tidy entry in the million-dollar neighbourhood.
It was listed as an “entry level” spacious one bedder “set one block back from the New Farm Cinema”.
The Public Trustee listed it as needing “a dramatic facelift” which would add immediate value to the unit.
Ignore the carpet … how spacious is this lounge?
Huge bedroom with loads of light.
“While in need of some urgent love and attention, it is a perfect entry level home for a young couple, city worker or a fantastic investment opportunity with strong rental demand in the area,” was how it was described. “There is work to be done before you move in, however the pay-off will be there in the end”.
The vintage kitchen is crying out for a true open plan.
It’s dated but look at all that space.
There is a lot of work to be done though in the kitchen and bathroom, and the carpet could do with a trip to the dump.
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The older unit is bigger than many newer models coming on the market with a large living space including room for dining, a large bedroom with built-ins.
Gut the large bathroom, new vanity, new shower, new loo, some nice flooring … so much potential.
Rates are $326 a quarter with the body corporate set at $567 a quarter, with a 5 per cent deposit required off the winning bidder on the day and 42-day settlement.
The unit has its own lockup laundry next to its car space, and yes, it needs some TLC.
The entry to the laundry off the unit’s car space.
The 66sq m unit comes with its own balcony as well as a separate laundry located beside its car space and is open for inspection next Saturday January 23 at 11am.
Only 20 people will be allowed into the property at any given time, all of whom have to wear masks and practice social distancing.