72 Cambridge Street, Red Hill QLD 4059

6% + Gross rental yield potential - massive land bank opportunity.

Commanding a hill top position is this wonderful three-level detached, solid brick and tile, post-war home on a massive 960m2 allotment. Zoned LMR2, the property presents a myriad of opportunities. Originally a family home the property is currently used as an accommodation house for students. The home offers fourteen bedrooms most with built-in cupboards, three kitchens, three bathrooms, communal laundry, indoor and outdoor living areas and multiple wrap around balconies. Parking is available for at least three vehicles off street.

With a reasonably level rear garden, elevated inner city position, an almost quarter acre of land, zoning and post war status there are so many possibilities and so much potential.

*For the builder/developer there is the option to remove the home and then re-build a new home or multiple homes with potential city views (STCA) (demolition quote available)

*For the renovator, with it's massive internal floor space, there is the option to convert this solid brick home back into a stunning three level family home and utilise all the extra garden space, plenty of room for a huge lap pool and/or tennis/basketball court !!
*For the investor there is the option to keep the existing property as an income producing asset renting by the room or rent out as a single house, (outgoings and income details available on request)

Cambridge Street, Red Hill is located around 2KM from Brisbane's CBD on the border of Paddington and is known for its elevated peaceful position with stunning views that capture cooling southerly breezes and in some cases city views. Owning a property on this wonderful street is a blessing for the lucky few and one that many aspire to. Properties of this size in this location at this very affordable price are as rare as hen's teeth, don't miss this opportunity, contact me now to arrange your private inspection.

Additional features include

• Solar power
• Ground level lock up garages
• Vacant possession available

INSPECTION BY APPPOINTMENT

To see a virtual inspection of the home click on external link

Inspections are subject to state government covid-19 Advice