3 Penrose Close, Underwood, QLD 4119 | Land for sale | OnTheHouse
 
FOR SALE
FOR SALE

3 Penrose Close
Underwood QLD 4119

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Land area: 434m2
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Build Your Dream Home with Elevated Views

An exclusive opportunity awaits to secure a prestigious parcel of land in one of Underwood's most desirable enclaves. Positioned on a commanding 434sqm corner block, this exceptional elevated allotment offers the perfect canvas to bring your dream home vision to life.
Boasting a flat, highly usable layout with an enviable corner position, this rare landholding provides the ideal foundation for a statement residence designed around modern luxury, lifestyle, and timeless appeal.
Surrounded by quality homes and positioned in a tightly held location, this premium block offers both privacy and convenience, with seamless access to major arterial roads, Brisbane's CBD, and the Gold Coast.
Enjoy the effortless lifestyle of being moments from Underwood's thriving shopping precinct, local dining, schools, parks, and everyday amenities, while having the freedom to create a home that reflects your individual style and aspirations.
Opportunities to secure premium land of this calibre are seldom available - an exceptional offering for those seeking location, lifestyle, and the chance to create something truly remarkable.
- Premium 434sqm corner allotment
- Bring your architectural vision to life on this perfect blank canvas
- Elevated, flat and highly usable block offering the perfect foundation to design your dream residence
- Surrounded by quality residences in an established and prestigious location
- Convenient access to major arterial roads connecting Brisbane CBD, the Gold Coast and surrounding suburbs
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Property Details for 3 Penrose Cl, Underwood

Building Type
Land
Land Size
434m2
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About Underwood 4119

The size of Underwood is approximately 4.2 square kilometres. There are 11 parks, covering nearly 9.8% of the total area. The population of Underwood in 2016 was 6341 people. By 2021 the population was 6809 showing a population growth of 7.4% in the area during that time. The predominant age group in Underwood is 30-39 years. Households in Underwood are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Underwood work in a professional occupation.In 2021, 70.70% of the homes in Underwood were owner-occupied compared with 67.60% in 2016.

Underwood has 3,409 properties. Over the last 5 years, Houses in Underwood have seen a 101.43% increase in median value, while Units have seen a 126.74% increase. As at 31 July 2026:

  • The median value for Houses in Underwood is $1,390,715 while the median value for Units is $880,972.
  • Houses have a median rent of $760 while Units have a median rent of $595.
There are currently 33 properties listed for sale, and 31 properties listed for rent in Underwood on OnTheHouse. According to Cotality's data, 157 properties were sold in the past 12 months in Underwood.

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Zishaan Omar
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Harsh Bhasin
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