4 Ross Street Woolloongabba, QLD 4102

Sold for $1,200,000 on 18 Jun 2016
  • 7 Beds
  • 4 Baths
  • 3 Cars

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House in Woolloongabba


  • 7 Beds
  • 4 Baths
  • 3 Cars


Are you interested in 4 flats on an elevated 809sqm block just 200 meters from the Mater Hospital? The possibilities for further enhancement of this site are endless. Do you continue to land bank and enjoy the capital growth that this inner city hotspot delivers, renovate or re- develop or do you apply to have the use changed to commercial zoning and create a mediacal suite, consulting rooms or offices. Located just 200m from the Mater Hospital it is an easy 5 minute stroll. The 809sqm blocks affords plenty off street parking which is indeed rare in this inner city location.

Located within two kilometres of Brisbane's CBD, this is a premium inner-city location in an area undergoing rapid development which has already evolved into a vibrant dining and entertainment precinct. Education options are plentiful with nearby St Laurence's College, Somerville House & QUT and within the Brisbane State High School catchment. An easy walk to walking Major hospitals (Mater & PA), Southbank Parklands, Park Road train station nearby (900m), Bus (50m) & The Gabba Cricket Ground (950m).

If you are seeking:
• Large block with multiple development options (STCA)
• Sub-division potential (STCA)
• High grossing rental return& capital growth in a proven high performing inner suburb
• Brisbane State High School zoning

Bring your accountant, town planner or builder with you to our next inspection.

On offer is a substantial 809sqm elevated block on one title comprising of four separate registered flats contained within an expansive house. Each self-contained flats has its own metered gas and electricity supply , own entrance, kitchen , laundry and air/con . The three upstairs flats have timber floors and private courtyard plus single car parking in the purpose built carport. The combined potential rental return is over $67,000 providing you outstanding income whilst you either consider your development plans (STCA) or simply hold long term and land bank for future development and capital growth. The potential of this property will only be fully appreciated upon your inspection and limited by your imagination.

Possible options include:
* Renovate existing four flats
• Move pre-war house to the side and create sub-division of two blocks (STCA)
• Raise existing house and renovate (STCA)
• Remove post-war rear extensions and create new duplex dwelling (STCA)
* Re-zone for commercial use and create medical suite / consulting rooms or offices
Property facts:
• Land size 809sqm, dimensions 20m x 40.45m, elevated with no flood flags on property
• Original pre-war (1946) house with extensive post war extensions to
create four (4) self-contained units, council registered as operating flats.
Each flat has individual metered gas and electricity supply.
• Selling Lot 31 Registered Plan 12228 on single title
• No body corporate
• Zoning Character Residential Infill
• Two of the four units are currently under lease with the other two units kept vacant for easy inspection.
• Unit 1 - 3 bedrooms - Current rental $400 per week (Lease ends January 2017)
• Unit 2 - 2 bedrooms Previous rental $360 per week, vacant for inspections
• Unit 3 - 1 bedroom Current rental $285 per week (Lease ends August 2016)
• Unit 4 - 1 bedroom - Previous rental $275 per week, vacant for inspections.
• Covered car parking for 3 cars and private courtyards to the rear of three flats.
• Proven rental income of over $67,000 per annum.
* New iron roof

Inspection is a must as finding 809sqm of prime land this close to any capital city in Australia is rare indeed. For further information please contact selling agent Gunther today on 0418 310 091.







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