45 Martyn Street

Parramatta Park QLD 4870

1012 m²

Block of units

Currently for sale - view listing

Overview

Entire Unit Complex on Quarter Acre - Prime City Edge Investment

Positioned on the very edge of the Cairns CBD, this rare opportunity offers investors the chance to secure an entire complex of six spacious apartments on one large 1,012sqm parcel of land just moments from the city's major amenities. Solidly constructed by an Italian builder in double brick/block and held on a single title, this robust complex sits in a prime inner-city position only 750m from Cairns Central Shopping Centre and approximately 1km from the Cairns Esplanade, placing it within easy walking distance of employment, retail, dining and transport. Investments of this scale and location are increasingly hard to find. With a decent existing income stream and significant land value underpinning the asset, the property presents as an ideal long-term hold or land-bank opportunity in one of Cairns' most sought after locations. The apartments themselves are generous in size and well suited to the local rental market. One has been fully renovated, while the remaining units range from original condition to partially updated. A savvy investor could progressively modernise each unit over time to further increase rental returns. Demand for accommodation in this central location remains consistently strong, with vacancies in the complex historically rare. Key Features: • Entire complex of 6 spacious apartments on one title • NO BODY CORP FEES • Large 1,012sqm inner-city landholding • 750m walk to Cairns Central • Approx. 1km to the Cairns Esplanade • Solid Italian-built construction - Brick/Block externals, suspended concrete slab 2nd storey, concrete staircases and block internal walls • Opportunity to renovate and improve rental returns over time • Exceptional long-term land bank in a blue-chip city location Current Gross Rental Income: $128,440 per annum ($2,470 per week) Secure a substantial slice of inner-city Cairns real estate with strong holding income and outstanding long-term potential. 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.