589 Ipswich Road, Annerley, QLD 4103 | House for sale | OnTheHouse
 
FOR SALE
Offers over $1,950,000

589 Ipswich Road
Annerley QLD 4103

Bedrooms: 8
Bathrooms: 2
Car spaces: 4
Floor area: 242m2
Land area: 650m2
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FULLY TENANTED BOARDING HOUSE WITH DA APPROVAL - PRIME LOCATION

589 Ipswich Road Annerley presents a brilliant investment opportunity, set high on Ipswich Road with great views over Annerley and surrounding suburbs. Only 6 kilometres from the Brisbane CBD, it provides an immediate inner-city development opportunity, with an existing Development Approval (DA) for 18 units and potential future alternative use.
The property zoning is LMR2 Low-Medium Density Residential – allowing code assessable development of 2 or 3 storey residential mixed-use dwellings.
✨ CURRENT USE
589 Ipswich Road, Annerley has been operating as Rooming Accommodation for the past 28 years, and includes 8 bedrooms, 2 bathrooms, and 4 car parking. The boarding rooms are a favourite for students, and the existing tenancies are RTA Rooming Accommodation Agreements.
It is a large property with over 240m2 of living space and is close to all amenities and transport. The property is fully furnished and has large and spacious rooms.
✨ CURRENT RENTAL INCOME
The combined rent for 589 Ipswich Road Annerley is $1,270 per week. The current rent includes:
- Fully furnished room
- Unlimited internet
- All utilities (gas, water, electricity)
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Property Details for 589 Ipswich Rd, Annerley

589 Ipswich Rd, Annerley is a 8 bedroom, 2 bathroom House with 4 parking spaces. The property has a land size of 650m2 and floor size of 242m2. The place is currently for sale with Affinity Property Australia.

Building Type
House
Floor Size
242m2
Land Size
650m2
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About Annerley 4103

The size of Annerley is approximately 2.8 square kilometres. It has 11 parks covering nearly 4.1% of total area. The population of Annerley in 2016 was 11336 people. By 2021 the population was 11891 showing a population growth of 4.9% in the area during that time. The predominant age group in Annerley is 20-29 years. Households in Annerley are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Annerley work in a professional occupation.In 2021, 44.00% of the homes in Annerley were owner-occupied compared with 42.90% in 2016.

Annerley has 6,439 properties. Over the last 5 years, Houses in Annerley have seen a 77.06% increase in median value, while Units have seen a 112.19% increase. As at 30 November 2025:

  • The median value for Houses in Annerley is $1,346,935 while the median value for Units is $785,819.
  • Houses have a median rent of $650 while Units have a median rent of $575.
There are currently 17 properties listed for sale, and 31 properties listed for rent in Annerley on OnTheHouse. According to Cotality's data, 263 properties were sold in the past 12 months in Annerley.

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Sean Mccreanor
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Affinity Property Australia
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