A stunning reno of a dilapidated block of flats has paid off, with the four apartments now nearly tripling their rental return.
The block in Brisbane’s inner-city , was purchased by cousins, best mates and business partners John Fronis and Ilias Tsangaris in March 2022 for $1.331 million.
When the pair purchased the property, it had an investment return of $57,000 per annum.
It now offers a rental income of $152,880 per year.