Live Upstairs, Earn Income Downstairs in the Heart of Red Hill

What if your next home could help pay for itself?

This renovated character cottage offers the opportunity to enjoy inner-city living upstairs while earning rental income from the self-contained accommodation below.

Positioned in the heart of Red Hill, the property combines the warmth and appeal of a character home with a flexible layout suited to buyers who want more from their purchase. Live close to cafés, shops, public transport, QUT Kelvin Grove and the Brisbane CBD, with the potential for rent from downstairs to help pay down your mortgage.

Currently configured as five individually leased bedrooms across two levels, the property is fully leased and generates $1,525 per week, or approximately $79,300 per annum.

For parents with a child attending local schools, the layout also offers a way to secure accommodation close to QUT Kelvin Grove while generating income from other rooms.

Property highlights
- Renovated character cottage in a sought-after Red Hill location
- Opportunity to live upstairs and rent out downstairs
- Self-contained lower-level accommodation
- Five individually leased bedrooms in the current configuration
- Current income of $1,525 per week, or approximately $79,300 per annum
- Gross rental yield of over 5% based on current income
- Multiple living areas
- No body corporate fees
- Easy access to the CBD, QUT Kelvin Grove, cafés and public transport
- Within the Kelvin Grove State College catchment

Current weekly rents:
Room 1 $320
Room 2 $320
Room 3 $310
Room 4 $280
Room 5 $295
Total: $1,525 per week

A quality inner-city home with the potential to turn part of the property into an income stream. Inspect and explore how this flexible Red Hill cottage could work for you.

Inspections

Saturday, 7 Nov 12:00 PM - 12:30 PM

Explore the area

School catchments

Petrie Terrace State School Primary Prep-6 Government 0.34km
Compass Independent School Combined Prep-7 Independent 0.58km
Queensland Academy for Creative Industries Secondary 10-12 Government 0.79km
Kelvin Grove State College Combined Prep-12 Government 0.93km
Brisbane Grammar School Combined 5-12 Independent 0.97km
Brisbane Girls Grammar School Secondary 7-12 Independent 1.2km
Brisbane Girls Grammar School - Primary Campus Primary Independent 1.2km
Milton State School Primary Prep-6 Government 1.4km
IES College Secondary 12 Independent 1.4km
Hubbard's School Secondary Independent 1.6km
Hubbard's School Secondary 11-12 Independent 1.6km
The Industry School - Brisbane Secondary 10-12 Independent 1.6km
St Joseph's College Combined 5-12 Catholic 1.7km
Ithaca Creek State School Primary Prep-6 Government 1.7km
St Finbarr's School Primary Prep-6 Catholic 1.9km
Brisbane Central State School Primary Prep-6 Government 1.9km
St Ambrose's Primary School Primary Prep-6 Catholic 1.9km
St Joseph's College - Waterford Place Campus Combined Catholic 2.0km
Humanitas High School - Initial Campus Secondary Independent 2.2km
St James College Combined 5-12 Catholic 2.2km
The BUSY School - Brisbane Campus Secondary Independent 2.2km
Arethusa College - West End Campus Secondary Independent 2.3km
Mt St Michael's College Combined 5-12 Catholic 2.4km
Angelorum College Combined Prep-10 Independent 2.4km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.

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