12/324 Sheridan St

Cairns North QLD 4870

40 m²

Unit

Currently for sale - view listing

Overview

Under-Rented & Ready for Growth

Positioned on the first floor of a well-located complex of 30 units in Cairns North, this affordable one-bedroom apartment presents an excellent opportunity for investors seeking immediate income with significant future upside. The complex also features an in-ground swimming pool for residents to enjoy. Currently leased until 21 September 2026 at $330 per week, the property provides secure income from day one. Savvy investors will immediately recognise the opportunity to improve returns at the next rent review (March 2027). While comfortable and functional as is, the apartment would benefit from a fresh coat of paint and some cosmetic updating, providing an opportunity to add value without undertaking major renovations. To help purchasers visualise the possibilities, some marketing images have been digitally enhanced and virtually furnished to demonstrate the property's potential presentation following cosmetic improvements.. Property Features: • First-floor position • One bedroom with built-in storage • Functional bathroom • Open-plan living and dining area • Air-conditioning • Allocated car parking • In-ground swimming pool within the complex • Currently leased at $330 per week until 21 September 2026 • Potential for rental growth - rental appraisal $330-$370/week • Affordable entry into the Cairns North market •Body Corporate Fees: Approximately $4313/annum •Rates: Approximately $1633/half year Whether you're looking to add to your portfolio or secure an affordable property with future flexibility, this is an opportunity well worth investigating. All information contained herein is gathered from sources we believe to be reliable. This Office and its Agent provide no guarantees or undertakings concerning the accuracy, completeness, or current nature of the information and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers must undertake their own due diligence, enquiries and assume various searches to verify the information contained herein.