14 Water Street, Bundaberg South QLD 4670

4-unit brick block | fully tenanted since 1991 | Bundaberg South 911m² | low-maintenance income hold. This property offers a rare combination of original ownership tenure and durable brick construction across four separate dwellings on a single title, which is competitively strong for a buyer seeking immediate, reliable cash flow in a regional market with low vacancy. The fully tenanted position with long-term occupants removes leasing risk at settlement, and the layout—each unit with two bedrooms, one bathroom, and a carport—aligns with the dominant local rental demand profile. The property suits a passive investor or a buyer looking to replace a single house income stream with a diversified, lower-maintenance portfolio entry, where the land component on over 900 square metres provides underlying security and future subdivision optionality. The primary risk is that the rental income, at approximately $66,300 gross annually, is below market potential; a modest renovation program targeting kitchen and bathroom updates could lift rents toward the $100,000 range, improving yield and exit value. The 1991 sale date suggests deferred capital expenditure may be required, so a building inspection and depreciation schedule are essential before committing. The buyer’s opportunity lies in the gap between current and achievable rent, combined with Bundaberg South’s steady population growth and infrastructure investment. This property should be held for cash flow and capital growth, with a view to refinancing after rental uplift to fund further improvements or acquire additional holdings.