228 Cornwall Street

Stones Corner QLD 4120

Currently configured as five separate units capable of generating $96,000 - $100,000 per annum returns*, this pre-war Queenslander sits on an expansive 'High Density Residential' zoned block overlooking parkland on two titles.

Located just 4km from the CBD and footsteps from transport and Stones Corner Village, the rear north-facing 1120sqm property presents a series of outstanding options for investors and developers alike.

Boasting a 20-metre frontage, 26m rear boundary with deep 64m eastern and 47m western side borders (approximately), there is scope to reposition the existing dwelling or leave where in on the site, making room for the construction of a brand-new multi-unit development**

Whilst presenting with reasonably basic finishes, the 1-bedroom, 1-bathroom units offer a solid, ready-made investment. Three residences are currently tenanted under periodic leases, with 2 vacant, offering buyers the flexibility to either immediately redevelop or continue generating income to minimise holding costs while plans for the site are undertaken.

Alternatively, consider a quick, low-cost refresh of the units to increase rental returns significantly and landbank the property for future redevelopment.

Either way, this address represents an unmissable opportunity in a popular urban locale that will continue to require new housing.

Conveniently positioned within walking distance of express CBD bus stops, Buranda train station and metres from CBD-bound bikeways, it boasts access onto the South East Freeway in just 2 minutes. Residents can stroll to cafes, restaurants, pubs, and shops, (including ALDI or Woolworths supermarkets), whilst being moments from the Langlands Park Swimming Pool, Easts Leagues Club and Coorparoo Square's lifestyle precinct with bars, cinemas and fine dining. The property offers swift access to major hospitals (Greenslopes, Princess Alexandra and Mater), as well as sporting events at the GABBA, is a short walk to local primary schools and falls within catchment of the new Brisbane South State Secondary College (Dutton Park's high-performance school linked to UQ).

*based on a recent rental appraisal with minimum housing standards improvements

** Subject to Brisbane City Council Approval

This property is being sold without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.