67 King Street, Annerley QLD 4103

Six-unit block on single title | BR4-zoned elevated land | fully tenanted with upgrade upside | inner-Brisbane fringe location This property offers a rare combination of scale and location for an investor seeking an established income stream with strategic upside. The 809sqm BR4-zoned site in a tightly held inner-south suburb provides a land position that is increasingly difficult to replicate, while the current fully tenanted configuration delivers immediate cash flow. The cavity brick construction and larger-than-average unit layouts suggest lower ongoing maintenance and tenant appeal, and the elevated aspect with city views adds a qualitative edge that supports both rental demand and future redevelopment optionality. This is best suited to a buyer who values land content and yield over turnkey presentation. The primary risk lies in the valuation mismatch between automated residential data and the marketed auction expectation, which may create a gap between vendor aspiration and market reality. The 2008 sale price of $1.45m offers a long-term benchmark, but the current income of $136k pa implies a yield that may not justify the higher end of price expectations without rent increases. Upgrading interiors and pursuing the projected $171k–$180k rental income is the clearest path to bridging that gap, though this requires capital and management effort. The absence of flood or bushfire overlays is favourable, but buyers should verify tenancy terms and any body corporate obligations before bidding.