1/79 Waterton Street, Annerley QLD 4103

Renovated Queenslander in 5-unit complex | North-facing balcony | Walk to hospitals & UQ | High $/m² vs suburb This property presents a specific risk through its unit title on a small 172m² lot, concentrating its value in the renovated character fabric rather than land, which limits future capital growth relative to free-standing houses. The opportunity lies in securing a turnkey, low-maintenance character home in a high-demand inner-south location, with strong rental appeal from hospital and university proximity. It is best held as a long-term residence or a high-amenity investment, not as a land bank. Its competitive strength is the rare fusion of authentic, restored Queenslander character with a near-new complex’s practicality, offering a premium lifestyle product uncommon in the townhouse format. The north-facing living area, dual living spaces, and private courtyard position it for owner-occupiers seeking charm and convenience or investors targeting professional tenants. This serves buyers prioritising architectural distinction and walkable amenity over land area. Your next step is to validate the body corporate’s financial health and bylaws, as this dictates the cost and freedom of ownership in this shared complex.