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Property Details

Bed 6 Bath 3 Car 2

Land Size

655 square metre

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Prime Investment/ Development Opportunity in a Prime Location

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Situated in a sought after inner city location and only four kilometres from the CBD, this cash cow investment offers buyers the ability to buy a fully registered boarding house with long term tenancies whilst offering potential to further develop (S.T.C.A). 131 Edmondstone Street consists of six individual tenancies and sits on a prime 655m2.

Current Accommodation
– Six independent flats.
– Rental return of $410 per week, the property has the ability to return Circa $58,000 – $65,000 per annum return.
– Ability to further improve and increase the rental return.

Existing Home
– A beautiful character timber Queenslander home offers buyers the potential to renovate into a beautiful family home.

Development Upside
– Sitting on 655m2 and north facing, this corner position currently consists of a pre-war dwelling positioned at the front of the allotment with additional land at the rear of the property and facing Finsbury Street. (S.T.C.A) Recent investigations have indicated that buyers have the ability to keep the existing home and sub-divide the existing allotment from the property. (Please request accompanying documentation from the agent).
– Featuring a 18.9m frontage, 34.6m in length and positioned on a corner allotment, this site offers many great opportunities to obtain a development approval while returning great income or just sit back and enjoy the rental return.

Surrounded by hectares of beautiful manicured parklands and playgrounds, whatever your interests and needs are, this inner-city gem is sure to shine. It offers incredible access to great schools, such as St Ambrose and Kelvin Grove State School, as well as QUT, the Royal Brisbane Women's Hospital, and the Downey Park Farmers Market, all within ten minutes' walk.

The property is also conveniently located within minutes of great transport infrastructure and shopping facilities whilst being in a friendly, peaceful street. For those who work in the city, it's a short stroll to Newmarket or Wilston train station, or you may prefer to catch the bus from the nearby Reading Shopping Centre or Newmarket Road.

– 2 Minutes' walk to Finsbury Park and Downey Park.
– 4 Minutes' walk to Newmarket Reading Shopping Centre.
– 10 Minutes' walk to QUT and Royal Brisbane Hospital.
– 4.5 Kilometres to the CBD.
– 800m walk to Wilston Train Station.

Contact Matthew Jabs for a full information package on this blue chip real estate investment.
If you are looking for a home ready to move into and in a rarely available position, please contact Matthew Jabs for further details.

**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.

Whilst all reasonable attempts have been made to verify the accuracy of the information provided, the Selling agents confirm that they cannot guarantee accuracy of the same and accept no liability (express or implied)in the event that any information contained in the document or provided within is inaccurate. Parties must ensure they make their own due diligence enquiries to satisfy themselves about the accuracy of the information. This information provided is indicative only and must not be relied upon unless confirmed by a party through their own due diligence.**

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