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1 - 8/56 Prospect Terrace, Kelvin Grove, Qld 4059 For Sale

1 - 8/56 Prospect Terrace, Kelvin Grove, Qld 4059

Expressions of Interest closing 15th October 2026

Block Of Units
Type
8
Bedrooms
10
Bathrooms
1
Parkings
1,239 m²
Area

Published on Thursday, September 24, 2026 ( See property details for 1 - 8/56 Prospect Terrace, Kelvin Grove, Qld 4059)

Expressions of Interest closing 15th October 2026

  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A rare opportunity to acquire a fully leased, income-generating block of flats in the highly sought-after Kelvin Grove, with significant future growth prospects.

🏡 Property Highlights

  • Fully leased investment with approximately $220,000 annual gross rental income
  • Entire block of flats comprising ten self-contained residences
  • Prime inner-city Kelvin Grove location close to Brisbane CBD and upcoming Olympic precinct
  • Mix of one-bedroom apartments and studios offering diversified income streams
  • Strong long-term capital growth potential in a tightly held area
  • Minimal vacancy and excellent access to public transport and amenities

✨ Key Features

  • Built in robes
  • Open-Plan Living
  • Ensuite
  • Outdoor Area
  • Security Screens / Gates
  • NBN / High-Speed Ready
  • Fully fenced
  • Water tank
  • Floorboards
  • Pet-Friendly

Kelvin Grove is a vibrant inner-city suburb renowned for its proximity to Brisbane CBD, excellent public transport, and a thriving local amenities scene. It benefits from ongoing infrastructure development, including the future Olympic precinct, making it an ideal location for investors seeking strong capital growth. The area offers a mix of educational institutions, healthcare facilities, parks, and cultural attractions, creating a dynamic and desirable community. Its tightly held real estate market ensures long-term value retention and growth potential.

What is the current rental income and vacancy rate for the property?
The property currently generates approximately $220,000 per annum in gross rental income with minimal vacancy, ensuring a strong and reliable income stream.
Are there any existing lease agreements or tenancy schedules available?
Yes, a full tenancy schedule and supporting lease information can be provided to interested buyers upon request.
What are the future development plans or infrastructure projects in the area?
The property is within walking distance of the future Brisbane Olympic precinct, which is set to benefit from significant investment and infrastructure leading up to the 2032 Olympic and Paralympic Games.
What are the annual outgoings and associated costs?
Further details on annual outgoings and expenses are available upon request, including supporting documentation.
Is the property suitable for further development or subdivision?
The property comprises a block of units on a 1,239 m² site, and potential for development or subdivision would depend on local council zoning and planning regulations, which should be verified.
Are there any zoning restrictions or planning overlays that could affect future development or use of the property? What are the current council rates, water rates, and other ongoing costs? Are there any easements, covenants, or encumbrances registered on the title? Has the property been inspected for structural issues or pest infestations? Are there any upcoming planned infrastructure projects or developments nearby that could impact the property’s value or livability? Is the property compliant with all relevant building codes and safety standards? Are there any strata or body corporate fees or special levies applicable to this property? What is the history of the property regarding repairs, renovations, or disputes? Are there any environmental risks such as flooding or bushfire zones affecting the property? What are the terms and conditions of the existing leases, and are there any rent reviews or lease expirations upcoming?

1 - 8/56 Prospect Terrace, Kelvin Grove, Qld 4059 - More Details

Expressions of Interest closing 15th October 2026

Expressions of Interest closing 15th October 2026

A rare opportunity to secure an entire block of flats in the heart of Kelvin Grove, offering a strong existing income stream together with excellent long-term capital growth potential.

Positioned on Prospect Terrace, the property comprises ten self-contained residences across eight flats, with a combination of one-bedroom apartments and studio accommodation. Fully leased, the property currently returns approximately $220,000 per annum in gross rental income, providing an attractive and diversified income stream from day one.

A full tenancy schedule and supporting lease information can be provided to interested buyers on request, as well as further details on annual outgoings.

The location is a major part of the opportunity. Kelvin Grove continues to benefit from its proximity to the Brisbane CBD, QUT Kelvin Grove, the Royal Brisbane and Women's Hospital, public transport and a wide range of local shops, cafés and amenities. The property is also within walking distance of Victoria Park and the future Brisbane Olympic precinct, placing it in an area set to benefit from significant investment and infrastructure in the lead-up to the 2032 Olympic and Paralympic Games.

Whole blocks of flats in established inner-city locations are tightly held, particularly those offering this level of existing income. For investors looking for a strong return with the added benefit of long-term capital growth, 56 Prospect Terrace presents a particularly compelling opportunity.

Property features include:

• Entire block offered for sale in one line
• Ten self-contained residences across eight units
• Mix of one-bedroom apartments and studios
• Approximately $220,000 per annum gross rental income
• Fully leased investment
• Minimal vacancy
• Multiple income streams across the one holding
• Approximately 3km from the Brisbane CBD
• Close to QUT Kelvin Grove and the Royal Brisbane and Women's Hospital
• Walking distance to Victoria Park and the future Olympic precinct
• Excellent access to public transport and surrounding amenities
• Strong investment fundamentals in a tightly held inner-city location

For further information, including the tenancy schedule and supporting documentation, contact Reuben Packer-Hill on 0401 840 361.

Expressions of Interest closing 15th October 2026
Type
Block Of Units
Bedrooms
8
Bathrooms
10
Parkings
1
Area
1,239 m²

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