Offering an exciting combination of lifestyle flexibility, immediate rental income and future potential, this unique property presents an outstanding opportunity for investors, owner-occupiers and extended families alike.
Set on 369m² across two lots (223m² and 146m²), the property features two separate living spaces, each with its own kitchen, bathroom and living areas, providing excellent privacy and flexibility for multi-generational living or dual-income investment.
The lower-level residence is already tenanted at $600 per week, while the vacant upper residence offers an estimated rental return of $650-$720 per week in its current condition. This represents a potential combined income of $1,250-$1,320 per week ($65,000-$68,640 annually). With renovation, the upper residence could achieve an estimated $795-$850 per week, lifting the combined rental potential to $1,395-$1,450 per week.
Upstairs, the original home retains an abundance of period charm and character, showcasing beautiful VJ walls, panelled ceilings, an ornate fretwork archway, French doors and an impressive leadlight entrance. Three bedrooms include a generous main bedroom with a full wall of built-in robes, complemented by a separate light-filled study with a district outlook.
Separate living and dining rooms provide a welcoming sense of space, while the enclosed sunroom offers additional versatility. The original kitchen and bathroom remain largely untouched, presenting an exciting opportunity to renovate, restore and create something special while adding significant value (STCA).
Downstairs, a solid face-brick two-bedroom residence provides a separate front entrance, kitchen, bathroom, living and dining areas, built-in robes and direct access to the backyard. This independently configured space is ideal for extended family, supplementary rental income or accommodating guests.
Outside, the freshly painted weatherboard exterior, distinctive twin-gabled roof, carport and additional off-street parking complement a fenced backyard with established screening trees and lawned gardens.
Whether you're looking to secure a property with established income, accommodate extended family under one roof, or explore the potential to further enhance and maximise returns, this is an opportunity offering multiple pathways to value.
Property highlights include:
* 369m² allotment across two lots (223m² and 146m²)
* Five bedrooms plus a separate study and two bathrooms
* Two independently configured living areas, each with its own kitchen and bathroom
* Two kitchens, two bathrooms and two laundries
* Current rental income of $600 per week from the downstairs residence
* Upstairs rental appraisal of $650-$720 per week in its current condition
* Potential combined rental return of $1,250-$1,320 per week
* Renovated upstairs rental appraisal of $795-$850 per week, with combined potential of $1,395-$1,450 per week
* Strong tenant appeal for QUT students, UQ medical students, doctors and hospital staff
Upstairs - Character and Potential
* Three bedrooms, including a generous main bedroom with full-wall sliding built-in robes and a third bedroom with built-in robes
* Separate study with district outlook
* Separate living and dining rooms featuring an ornate fretwork archway
* Original VJ walls, panelled ceilings and casement windows with textured glass
* Beautiful leadlight front door, French doors and enclosed sunroom
* Original kitchen with freestanding gas cooker and double sink
* Original bathroom with bath
* Split-system air conditioning to the living room
* Excellent scope to renovate, restore and add value (STCA)
Downstairs - Independent Living
* Two bedrooms, both with built-in robes
* Separate living and dining room with direct backyard access
* Kitchen with gas cooktop and oven
* Bathroom with shower and separate toilet
* Independent front entry
* Two laundries on the lower level
Outside
* Solid face-brick lower level and freshly painted weatherboard upper level
* Distinctive twin-gabled roof
* Carport and driveway with additional off-street parking
* Fenced, lawned backyard with clothesline and established screening trees
* Front lawn and low brick garden wall
Area Schedule
* Internal area: 235.6m²
* External area: 5.4m²
* Total building area: 240.9m²
* Land area: 369m²
A rare dual-income offering in a blue-chip inner-city position - definitely one not to miss. Your inspection is highly recommended.
*Rental appraisal figures are an opinion only and are not a guarantee of future rental income.
*Prospective purchasers should make their own enquiries regarding the approval status and permitted use of the lower-level accommodation.
*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.
