42 Wellington StreetCoorparoo QLD 4151
Property Details for 42 Wellington St, Coorparoo
42 Wellington St, Coorparoo is a 10 bedroom, 6 bathroom Unit with 5 parking spaces and was built in 1973. The property has a land size of 776m2. While the property is not currently for sale or for rent, it was last sold in August 2023.
Last Listing description (August 2023)
Held by the one owner since its 1973 construction, this block of four cavity brick units presents limitless options for investors or developers seeking to enter one of Brisbane's highest capital growth suburbs.
Boasting a peaceful elevated street location less than 500 metres walk from transport, shops and Coorparoo Square's dynamic lifestyle precinct, the rear north-facing site is currently configured to accommodate one 3-bedroom unit at the front and three 2-bedroom units to the rear.
Whilst presenting largely in original condition the units have had strong recent rental success; with the two-level front residence occupied and well-maintained by the owner. Solidly built, all feature a spacious layout with generous bedrooms, large windows capturing plenty of natural light and private lock-up garages.
Options for the property include:
1. Enjoy an immediate investment by undertaking a quick, low-cost interior refresh of the units to maximise rental returns.
2. Reside in the front home enjoying its huge lounge with adjoining terrace, rich hardwood floorboards and reverse cycle air-conditioning, whilst securing a passive income stream from the other three units.
3. Take advantage of the 776sqm block's LMR zoning, expansive frontage, superb district views by removing the current buildings to redevelop the site with multiple new units*.
4. Construct one large luxurious family residence in this prized enclave moments from elite schools and exceptional local amenities.
In addition, the units could be immediately rented out with little more than good clean to minimise holding costs while development plans for the property are undertaken.
This exclusive address is an easy stroll to Coles, Woolworths or ALDI supermarkets, great cafes, specialty shops, health and fitness centres, as well as the cinemas, restaurants and bars of Coorparoo Square. Within catchment and walking distance of the coveted Coorparoo State School, Mt Carmel Catholic Primary and Villanova College it is also minutes from Loreto College and Churchie Grammar. Just 5km to the CBD, swift access is offered via city Glider bus, nearby train or direct arterial road.
For more information contact Jim Waller MB 0400 727 767 Email: jim@wallerproperties.com
*Subject Brisbane City Council Approval
Property History for 42 Wellington St, Coorparoo, QLD 4151
- 11 Aug 2023Sold for $2,160,000
- 27 Apr 2023Listed for Sale Offers Over $2,150,000 Seriously Considered.
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About Coorparoo 4151
The size of Coorparoo is approximately 5.4 square kilometres. It has 31 parks covering nearly 10.1% of total area. The population of Coorparoo in 2011 was 14,944 people. By 2016 the population was 16,284 showing a population growth of 9.0% in the area during that time. The predominant age group in Coorparoo is 20-29 years. Households in Coorparoo are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Coorparoo work in a professional occupation. In 2011, 52.7% of the homes in Coorparoo were owner-occupied compared with 52.1% in 2016.
Coorparoo has 9,770 properties. Over the last 5 years, Houses in Coorparoo have seen a 78.23% increase in median value, while Units have seen a 89.53% increase. As at 31 October 2024:
- The median value for Houses in Coorparoo is $1,616,708 while the median value for Units is $713,168.
- Houses have a median rent of $650 while Units have a median rent of $550.
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