1/68 Cambridge St

Red Hill QLD 4059

House

Currently for sale - view listing

Overview

Live Upstairs, Earn Income Downstairs in the Heart of Red Hill

What if your next home could help pay for itself? This renovated character cottage offers the opportunity to enjoy inner-city living upstairs while earning rental income from the self-contained accommodation below. Positioned in the heart of Red Hill, the property combines the warmth and appeal of a character home with a flexible layout suited to buyers who want more from their purchase. Live close to cafés, shops, public transport, QUT Kelvin Grove and the Brisbane CBD, with the potential for rent from downstairs to help pay down your mortgage. Currently configured as five individually leased bedrooms across two levels, the property is fully leased and generates $1,525 per week, or approximately $79,300 per annum. For parents with a child attending local schools, the layout also offers a way to secure accommodation close to QUT Kelvin Grove while generating income from other rooms. Property highlights - Renovated character cottage in a sought-after Red Hill location - Opportunity to live upstairs and rent out downstairs - Self-contained lower-level accommodation - Five individually leased bedrooms in the current configuration - Current income of $1,525 per week, or approximately $79,300 per annum - Gross rental yield of over 5% based on current income - Multiple living areas - No body corporate fees - Easy access to the CBD, QUT Kelvin Grove, cafés and public transport - Within the Kelvin Grove State College catchment Current weekly rents: Room 1 $320 Room 2 $320 Room 3 $310 Room 4 $280 Room 5 $295 Total: $1,525 per week A quality inner-city home with the potential to turn part of the property into an income stream. Inspect and explore how this flexible Red Hill cottage could work for you.