54 Plimsoll Street, Greenslopes QLD 4120

Corner block in Greenslopes | Dual-street frontage | Secured lease to 2027 | Renovation upside on single-level character home This property presents a rare combination of immediate income security and medium-term value-add potential. The corner block with dual street frontage is competitively strong for a buyer seeking both yield and optionality, as it offers future subdivision or reconfiguration scope beyond the current single-level layout. The locked lease at $850 per week until July 2027 provides a reliable cash flow buffer, making this suitable for an investor prioritising holding cost coverage while planning renovations. The polished timber floors, high ceilings, and dual living areas are genuine period features that underpin appeal to future owner-occupiers, while the proximity to Greenslopes Shopping Centre and express bus transport supports consistent tenant demand. The primary risk is the lease duration itself: the below-market rent (relative to potential $760–$840 per week) caps immediate yield at approximately 3.14%, and any renovation work must be timed around tenant access or vacancy post-2027. This costs the buyer patience but not capital loss, as the corner block configuration and absence of flood or bushfire overlay reduce downside. The opportunity lies in a phased renovation,kitchen and bathroom upgrades, potentially adding a second car space,to lift rental income toward the upper end of the range and resale value toward the valuation ceiling. Hold for the lease term, then reposition for sale or refinance.