$1,490,000+
Price drop — Reduced by $60,000 on 8 Oct 2026Was $1,550,000+ · dropped 8 Oct 2026
68 Cambridge Street
Red Hill, QLD 4059
- 5 beds
- 2 baths
Live Upstairs, Earn Income Downstairs in the Heart of Red Hill
What if your next home could help pay for itself?
This renovated character cottage offers the opportunity to enjoy inner-city living upstairs while earning rental income from the self-contained accommodation below.
Positioned in the heart of Red Hill, the property combines the warmth and appeal of a character home with a flexible layout suited to buyers who want more from their purchase. Live close to cafés, shops, public transport, QUT Kelvin Grove and the Brisbane CBD, with the potential for rent from downstairs to help pay down your mortgage.
Currently configured as five individually leased bedrooms across two levels, the property is fully leased and generates $1,525 per week, or approximately $79,300 per annum.
That equates to a gross rental yield of over 5% in its current configuration. Subject to the existing tenancies, a future owner could make the upper level their home and continue leasing the lower level. The income available under that arrangement would depend on the rooms leased and the rent achieved.
For parents with a child attending local schools, the layout also offers a way to secure accommodation close to QUT Kelvin Grove while generating income from other rooms.
Property highlights
- Renovated character cottage in a sought-after Red Hill location
- Opportunity to live upstairs and rent out downstairs
- Self-contained lower-level accommodation
- Five individually leased bedrooms in the current configuration
- Current income of $1,525 per week, or approximately $79,300 per annum
- Gross rental yield of over 5% based on current income
- Multiple living areas
- No body corporate fees
- Easy access to the CBD, QUT Kelvin Grove, cafés and public transport
- Within the Kelvin Grove State College catchment
Current weekly rents: Room 1 $320 Room 2 $320 Room 3 $310 Room 4 $280 Room 5 $295 Total: $1,525 per week
A quality inner-city home with the potential to turn part of the property into an income stream. Inspect and explore how this flexible Red Hill cottage could work for you.
