440 Waterworks, Ashgrove QLD 4060

Property Details: • Type: House

• Bedrooms: 7 • Bathrooms: 2

Description: It’s hard to find a good return when it comes to residential real estate, but this cash cow is a rare exception. With a circa 4% gross return, the once proud turn of the century landmark has been converted into 2 flats and sits on a glorious 865m2 block with over 30meters of frontage. Rich in history and possibility, this property offers rare opportunity in one of Ashgrove’s most tightly held pockets. Originally relocated to the site in the 1930’s and once utilised as a women’s hospital, the turn-of-the-century Queenslander has since been configured into two self-contained flats, now delivering a strong and consistent income stream. Balancing immediate return with long-term flexibility, the property is equally suited to investors seeking reliable yield, owner-occupiers looking to live in one residence while leasing the other, or those with a vision to reimagine the site into a forever home. Positioned just moments from Ashgrove West shopping precinct, leading schools and parkland, it offers both lifestyle and strategic upside in equal measure. - 865m² allotment in a blue-chip Ashgrove setting - Character Queenslander with rich local history - Configured into two self-contained flats - Strong holding income with future upside - Flexible configuration for investors or dual living - Potential to further enhance, renovate or reconfigure (STCA) - Ideal site for a future dream home in a premium location - Close to Ashgrove Central & West shopping precints including 3 supermarkets, 4 banks, cafés and public transport - Walk to highly-considered Ashgrove State School - Within 5km of the Brisbane CBD A property defined by its versatility, this is an opportunity to secure a foothold in a tightly held enclave while keeping every future pathway open - invest, occupy or transform. Contact Bonnie D'Arcy on 0423 005 563 to arrange a private viewing of this property.