Exciting potential for a dream home in prestigious Teneriffe. Positioned in a coveted elevated position in the prestigious suburb of Teneriffe, this character-filled home has so much potential. It's becoming increasingly difficult to find homes of this calibre ripe for development on Kingsholme Street and Teneriffe. This beautiful home boasts a sought-after northeast aspect perfect for the morning sun with expansive views over Teneriffe through to Hawthorne Hill. Inside the home, beautiful breezes and character features abound with polished timber floors, high decorative ceilings, abundant timber casement windows and embellished French doors. The home is highly liveable with two living areas, front and highly usable rear yards, and a multi-purpose front room with beautiful views currently utilised as a study off the master bedroom. On the upper floor is the stunning modern kitchen with an electric wall oven, a 5-burner gas cooktop and a centre island/breakfast bar. The bedrooms are substantial, with two boasting bay windows. There is an original bathroom and a separate toilet. Even without the apparent potential for this property to be converted into an extraordinary residence, you cannot look past the value of owning this premium allotment in a prestige street in one of Brisbane's premiere inner city suburbs. A smart land banker will see the value in this investment opportunity, particularly with rents in Teneriffe rising to all-time highs and the average block size becoming smaller yearly. This wonderful home will also appeal to those wanting to enter the prestigious Teneriffe market with plans to build their family home. Teneriffe is one of Brisbane's best areas for inner city living, with numerous bars and restaurants on your doorstep. It is only a 10-minute stroll to the James Street precinct, including the Calile Hotel, which was recently voted number twelve among the world's best hotels. It is a 7-minute walk to the Brisbane Riverwalk, while New Farm Park and Merthyr Village are also an easy 15-minute walk. The property is 2.5 km to the Brisbane CBD and walking distance to the bustling Howard Smith Wharves riverside entertainment precinct. Within close proximity to New Farm State School and Holy Spirit Catholic Primary School, while prestigious secondary colleges Gregory Terrace and Brisbane Grammar and All Hallows' School are a short drive or bus ride away. Auction Saturday the 3rd of February 10:00am on site.