Unlock the full potential of this unique opportunity in the heart of Chelmer! Situated on a rare 1,034sqm block on two lots, this charming character property presents a unique chance to capitalize on high rental returns as you consider options for a lucrative redevelopment project STCA. Positioned just steps from Chelmer train station and only minutes to top-tier amenities, this property is primed for investors and renovators alike. The current layout incorporates four self-contained units – two studio apartments and two one-bedroom residences, each with air-conditioning, kitchen, living area and bathroom. Outdoors five undercover parking spaces and a large backyard also feature, with a huge undercroft storage area and shared laundry further enhancing its rental appeal. Traditional design elements of the original home feature throughout, including stained glass and casement windows, high ceilings and VJ walls. For those seeking to add value, the options are endless: renovate and modernize each unit to increase rental income, or reimagine the property as a grand single-family residence on a rare and expansive parcel of land. • Character property on huge 1034sqm block on 2 lots • Ideal for investment, renovation, redevelopment • Original features – VJ walls, high ceilings, stained glass and casement windows • Currently 4 self-contained units – 2 x studio, 2 x 1 bedroom with potential rental return of approx. $400/week each • 5 undercover car spaces, undercroft storage area, shared laundry, large backyard This sought-after location delivers fabulous balance of convenience and lifestyle. Close to riverside parklands and sporting facilities, this property is only 1.3km to Indooroopilly Shopping Centre for cinemas, dining and major retailers. Positioned within the catchment zones for Graceville State School and Indooroopilly State High school, with UQ’s St Lucia Campus just 6 minutes away making it ideal for university staff and students alike.