Located in a Brisbane hotspot, this property offers two tenancies. Holding income is appraised at $600 - $700 per level. Alternatively, 8 rooms could be rented individually at approximately $200 per room per week. Gross Holding income is circa - $70,000 - $80,000 depending on your approach.
Importantly, the property has a 20 metre frontage or can be created to separate lots of 354 m2*. Land in this area to develop is rare and will offer strong future gains and a wonderful opportunity to build a new home.
This property will also benefit from a simple makeover to maximise income while you hold and plan. With multiple renovation opportunities available, the potential exists to expand, extend, build up, and further enhance the scenic city outlooks on display*. Additionally, there is a potential opportunity to move the dwelling to one side and sell the vacant second lot*.
The house is filled with classic timber floors, casement windows, VJ walls and stained glass details from a bygone era. Registered as two separate dwellings and generating dual income, the existing layout features eight bedrooms, two bathrooms, two kitchens across two levels and a detached two-car garage.
Perched in an inner-city locale, residents will enjoy access to every modern amenity, and the CBD is just 7 minutes away. Cafes, restaurants, shops and Seasons IGA are within easy walking distance, Mowbray Park is at the end of the street and buses and ferries offer excellent transport options. The Gabba is 950m from your front door, and you can travel 1.2km to the Cross River Rail and 1.4km to South City Square.
Within the East Brisbane State School catchment and moments from premier colleges, including Churchie, Lourdes Hill, Villanova, Loreto and All Hallows. Universities, hospitals and motorways are close at hand, and residents can travel to nearby lifestyle precincts, including South Bank, Howard Smith Wharves and Oxford Street.
*Subject to Brisbane City Council approval
Disclaimer
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.
Disclaimer:
We have in preparing this advertisement used our best endeavours to ensure the information contained is true and accurate, but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies or misstatements contained. Prospective purchasers should make their own enquiries to verify the information contained in this advertisement.
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