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Back 268 Lake St
Off Market

268 Lake St

Cairns North QLD 4870

8
4
465 m²
Block of units
Last sold for $1,560,000
Daniel GibbsDaniel Gibbs, last sold this property on 21 July 2025 after 33 days on market.

Overview

Prime Investment Opportunity on the Fringe of the Cairns Esplanade

Positioned just one street back from the iconic Cairns Esplanade and a short stroll to the Cairns Base Hospital, 268 Lake Street presents an exceptional opportunity to secure a fully-tenanted, well-maintained four-unit complex in the heart of Cairns North. Neatly tucked away and comprising of four renovated two-bedroom, one-bathroom residences on a single freehold title, this solid investment boasts quality long-term tenants, consistent rental returns, and a location that continues to drive demand from both renters and owner-occupiers alike. Each unit features open-plan living and dining areas, updated kitchens and bathrooms, and light-filled interiors that maximise the tropical lifestyle. Additional value is provided through a secure, lockable storage room allocated to each unit at the rear of the complex a rarity in this market. Key Features: - Four x 2-bedroom, 1-bathroom units on one freehold title - Fully renovated interiors (advertised photos are of Unit 2) - Repainted interior and exterior, still presenting as new - Common areas are exceptionally maintained & visually appealing - Lockable storage room for each unit at the rear of the complex - Sparkling in ground concrete swimming pool with waterfall feature - Outstanding location: one street back from the Cairns Esplanade - Well-established tenants in place providing secure & steady income - Opportunity to capitalise on future growth & development potential (STCA) - Current council rates: $12,033.20 per annum (subject to change) - Water Usage & Electricity: Separately metered and tenant-paid Rental Income Summary: Unit 1 $465 p/w (last increase 25/06/25) Unit 2 $465 p/w (last increase 05/02/25) Unit 3 $465 p/w (last increase 06/11/24) Unit 4 $495 p/w (last increase 21/05/25) Total Weekly Income: $1,890 | Total Annual Income: $98,280 This is a standout opportunity for astute investors looking for a low-maintenance, high-demand asset in a premium inner-city location. With the Cairns CBD, airport, hospitals and schools all within easy reach, properties of this calibre are rarely offered and highly sought-after. For further details or to arrange your private inspection, contact Daniel Gibbs today on 0432 606 645.

Features

8 bedrooms
4 bathrooms
465 m² lot size
Block of units

Estimated Value

We need at least 3 similar 8 bedroom block of units sold in Cairns North over the last 12 months.

Property history for 268 Lake St

2025
Sold
$1,560,000
Private Sale/Treaty on 21 Jul 2025 by Daniel Gibbs, of Inspire Real Estate Cairns

Happy sellers in Cairns North

96%
96% of sellers in Cairns North reported that their sale price either exceeded or met their price expectations.

Cairns North stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 49 reviews in Cairns North over the last 12 months.

Local market activity for 8 bedroom block of units in Cairns North

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Kaine Rowe

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Tim Winborn-Sharp

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