228 Cornwall StreetStones Corner QLD 4120
Property Details for 228 Cornwall St, Stones Corner
228 Cornwall St, Stones Corner is a 5 bedroom, 5 bathroom Unit with 5 parking spaces. The property has a land size of 1120m2. While the property is not currently for sale or for rent, it was last sold in May 2024.
Last Listing description (July 2024)
Currently configured as five separate units capable of generating $96,000 - $100,000 per annum returns*, this pre-war Queenslander sits on an expansive 'High Density Residential' zoned block overlooking parkland on two titles.
Located just 4km from the CBD and footsteps from transport and Stones Corner Village, the rear north-facing 1120sqm property presents a series of outstanding options for investors and developers alike.
Boasting a 20-metre frontage, 26m rear boundary with deep 64m eastern and 47m western side borders (approximately), there is scope to reposition the existing dwelling or leave where in on the site, making room for the construction of a brand-new multi-unit development**
Whilst presenting with reasonably basic finishes, the 1-bedroom, 1-bathroom units offer a solid, ready-made investment. Three residences are currently tenanted under periodic leases, with 2 vacant, offering buyers the flexibility to either immediately redevelop or continue generating income to minimise holding costs while plans for the site are undertaken.
Alternatively, consider a quick, low-cost refresh of the units to increase rental returns significantly and landbank the property for future redevelopment.
Either way, this address represents an unmissable opportunity in a popular urban locale that will continue to require new housing.
Conveniently positioned within walking distance of express CBD bus stops, Buranda train station and metres from CBD-bound bikeways, it boasts access onto the South East Freeway in just 2 minutes. Residents can stroll to cafes, restaurants, pubs, and shops, (including ALDI or Woolworths supermarkets), whilst being moments from the Langlands Park Swimming Pool, Easts Leagues Club and Coorparoo Square's lifestyle precinct with bars, cinemas and fine dining. The property offers swift access to major hospitals (Greenslopes, Princess Alexandra and Mater), as well as sporting events at the GABBA, is a short walk to local primary schools and falls within catchment of the new Brisbane South State Secondary College (Dutton Park's high-performance school linked to UQ).
*based on a recent rental appraisal with minimum housing standards improvements
** Subject to Brisbane City Council Approval
This property is being sold without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes.
Please note the following when attending our open homes:
"The attendee acknowledges that at all times while attending the open home/inspection they do so at their own risk and that the attendee (and other people in the care and control of the attendee) will not hold the owner, agent or any of their employees, contractors or agents liable for any personal injury, death, loss, theft or damage to their personal property, whether caused by the negligence of the owner, agent, their employees, contractors or agents, howsoever caused."
Property History for 228 Cornwall St, Stones Corner, QLD 4120
- 31 May 2024Sold for $1,620,000
- 03 May 2024Listed for Sale By Negotiation
- 01 Apr 2011Listed for Rent - Price not available
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About Stones Corner 4120
The population of Stones Corner in 2016 was 8936 people. By 2021 the population was 2336 showing a population decline of 73.9% in the area during that time. The predominant age group in Stones Corner is 20-29 years. Households in Stones Corner are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Stones Corner work in a professional occupation.In 2021, 37.10% of the homes in Stones Corner were owner-occupied compared with 40.80% in 2016.
Stones Corner has 1,727 properties. Over the last 5 years, Houses in Stones Corner have seen a 60.21% increase in median value, while Units have seen a 108.21% increase. As at 30 November 2025:
- The median value for Houses in Stones Corner is $1,245,191 while the median value for Units is $835,626.
- Houses have a median rent of $650 while Units have a median rent of $660.
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