30 Praed StreetRed Hill QLD 4059
Property Details for 30 Praed St, Red Hill
30 Praed St, Red Hill is a 8 bedroom, 5 bathroom Unit with 5 parking spaces. The property has a land size of 933m2. While the property is not currently for sale or for rent, it was last sold in June 2024.
Last Listing description (August 2024)
Fully leased gross yearly income $85280, Projected income on lease renewals $98,800. Site zoned CR1 (9.5m height limit) with 21.6m Enoggera Creek frontage and opposite a park. 5 unit complex comprising of 3 x 2 bed, 1 bath, 1 car + storage, + 2 x 1 bed, 1 bath, 1 car + storage. This apartment complex presents a superb opportunity in a sought-after precinct just 4.6km to the CBD. Ideal for investors or your SMSF, this high-income-producing asset boasts no Body Corporate and a prime leafy position with buses, cafes, and restaurants within walking distance.
The solid building features quality brick construction with dual staircase access to every unit. Each apartment includes a combined living/dining area with a kitchen, 1 or 2 bedrooms with built-in robes, a central bathroom and undercover tandem parking for 1-2 cars or 1 car + storage. Majority airconditioned. Additionally the building has two storage rooms.
With all 5 units consistently rented, you can start seeing immediate returns on your investment. Most tenants are long-term, 5+ years. For buyers wishing to capitalise further, there is potential to renovate the complex and generate higher rental income or redevelop the site (STCA).
Located in the highly sought-after suburb of Red Hill, the unit block is close to schools, Kelvin Grove State College, QUT Kelvin Grove and the Royal Brisbane Hospital, Suncorp stadium, shopping centers, parks, markets, cafes, entertainment and many dining options. Offering everything you need within reach. Additionally, the property's prime location ensures effortless commuting, with major highways and public transportation just moments away. It is also just a short drive to Paddington's famous shopping precinct and only 4.6km from the Brisbane CBD.
With the Brisbane Olympics just 7.5 years away in 2032, invest now in this block of units in a prime location, so close to the CBD and enjoy the returns and future capital appreciation. Please contact Dru on 0414 319 022 for more information.
Property Code: 10726
Property History for 30 Praed St, Red Hill, QLD 4059
- 21 Jun 2024Sold for $1,590,000
- 14 May 2024Listed for Sale Offers Over $1,500.000
- 20 Jun 2022Listed for Rent $290 / week
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0About Red Hill 4059
The size of Red Hill is approximately 140.9 square kilometres. It has 7 parks covering nearly 0.3% of total area. The population of Red Hill in 2016 was 5560 people. By 2021 the population was 5834 showing a population growth of 4.9% in the area during that time. The predominant age group in Red Hill is 20-29 years. Households in Red Hill are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Red Hill work in a professional occupation.In 2021, 52.10% of the homes in Red Hill were owner-occupied compared with 50.50% in 2016.
Red Hill has 2,821 properties. Over the last 5 years, Houses in Red Hill have seen a 70.59% increase in median value, while Units have seen a 118.35% increase. As at 31 March 2026:
- The median value for Houses in Red Hill is $1,886,374 while the median value for Units is $1,008,132.
- Houses have a median rent of $800 while Units have a median rent of $540.
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