15 Buruda Street, Chermside QLD 4032

Renovated post-war brick on flat 607m² | No overlays, development optionality | Prime Chermside walk-to-retail position | Single bathroom limits owner-occupier pull. The property’s strongest card is the flat, flood-free 607m² block with no overlay constraints, giving a buyer genuine optionality—hold for yield or pursue future development when zoning permits. The renovation is thorough: polished floors, modern kitchen, air-conditioning in key rooms, and a covered patio that extends usable space. For an investor, the current $650/week lease is a credible starting yield, with rent estimates suggesting upside to $710. The catchment for Wavell Heights State School and proximity to Westfield Chermside and express buses support tenant demand. This suits a buyer wanting immediate income with a land-banking angle in a rising corridor. The single bathroom is the clearest limitation, reducing appeal for families and capping capital growth in the owner-occupier segment. Lease terms should be confirmed before settlement—vacant possession may unlock higher rent but introduces holding cost. Development potential is real but contingent on council confirmation; do not pay a premium for hypothetical approvals. The location and block are the enduring value. Hold for rental income while monitoring zoning changes; if development becomes viable, the land’s flatness and size give it a structural advantage over neighbouring sites.