123 Waterworks RoadAshgrove QLD 4060
Property Details for 123 Waterworks Rd, Ashgrove
123 Waterworks Rd, Ashgrove is a 12 bedroom, 5 bathroom Unit with 5 parking spaces. The property has a land size of 1138m2. While the property is not currently for sale or for rent, it was last sold in June 2002.
Last Listing description (July 2021)
It is hard to find a good return when it comes to residential real estate but this cash cow is a rare exception. With a 4.3% net return, the once proud turn of the century landmark has been converted into 5 flats and sits on a glorious 1138m2 double block - two allotments with potential subdivide.
Conveniently located just 600m to Ashgrove Central and 4km to the Brisbane CBD, this versatile piece of real estate is blessed with more options than a swiss army knife. Generating a steady income stream, the superbly maintained multi-dwelling consists of 4 x 2-bedroom flats, a roomy 4 bedder and undercover car accommodation for 5 vehicles.
• 1138m2 block with 22m frontage
• 7% gross return & fully tenanted
• Under cover car accommodation for 5
With plenty of upside and scope to increase the yield, it is an out of the box investment with potential to subdivide a 600m2 rear block (STCA).
Contact Bonnie D'Arcy on 0423 005 563 for the ingoing’s/outgoings and building reports.
Property History for 123 Waterworks Rd, Ashgrove, QLD 4060
- 23 Mar 2021Listed for Sale $1,300,000
- 14 Jan 2020Listed for Rent $275 / week
- 12 Mar 2019Listed for Rent $240 / week
Recent sales nearby
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About Ashgrove 4060
The size of Ashgrove is approximately 5.9 square kilometres. It has 33 parks covering nearly 17.2% of total area. The population of Ashgrove in 2016 was 13039 people. By 2021 the population was 13450 showing a population growth of 3.2% in the area during that time. The predominant age group in Ashgrove is 10-19 years. Households in Ashgrove are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Ashgrove work in a professional occupation.In 2021, 71.50% of the homes in Ashgrove were owner-occupied compared with 69.00% in 2016.
Ashgrove has 5,674 properties. Over the last 5 years, Houses in Ashgrove have seen a 88.10% increase in median value, while Units have seen a 107.29% increase. As at 30 November 2025:
- The median value for Houses in Ashgrove is $1,944,624 while the median value for Units is $900,999.
- Houses have a median rent of $775 while Units have a median rent of $625.
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