Sold $1,597,500

Block of six residences on large parcel of land

House Sold - Auchenflower QLD

A ready-made investment opportunity, this block of six flats enjoys high occupancy rates with a healthy rental return and offers exceptional potential to add further value. The character building occupies a generous 1,012sqm allotment in a prime location, less than four kilometres to the CBD and metres from bus stops.

Pre-war upper level with stucco finishes and Art Deco features
Additional accommodation underneath constructed circa 1970s
Comprises three residences upstairs with one or two bedrooms
Traditional elements include high ceilings, ornate plasterwork
Picturesque city skyline views from front facing landings
Ground floor has three 1 bedroom dwellings with courtyards
Basic layouts incorporate practical living areas and kitchen
Single bathroom in each, several provide integrated laundry
Currently tenanted and generating $1,960 income per week
Exclusive vehicle access via Penrose Street to six carports
Near Toowong Village, train stations and The Wesley Hospital

The convenient address is a short walk from Cat & Fiddle Markets, Toowong Memorial Park and The Regatta Hotel, while The University of Queensland is within easy reach. With affordable housing in-demand, 8 Penrose Street is an attractive portfolio property, complete with scope to capitalise on future improvements.

Property Features
  • House
  • 7 bed
  • 6 bath
  • Land is 1,012 m²
  • 6 Open Parking Spaces