Features include:
Seize a prime investment opportunity with this exceptional property in the heart of Parramatta Park. This corner lot, featuring a tastefully converted 2-story Queenslander, presents a compelling prospect for investors seeking modern, low-maintenance units in a highly desirable rental location. This Prime rental location has the potential for up to 12.5% if converted to shared housing.
Property Highlights:
Location: 281 Severin Street, Parramatta Park
Freehold title.
No Body Corp Fees
Rates $3100 per unit
Land Size: 415 m2 corner block
Zoning: Residential
Proximity: Close to schools, parks, sports facilities, and only a 3-minute drive to Cairns Central
Public Transport: Conveniently accessible
Security: Gated entry for added peace of mind
Development Potential: Excellent opportunity for future expansion.
Unit Details:
Unit 1:
Three bedrooms
One bathroom
Two entrances
Currently vacant for inspections
Unit 2:
Three bedrooms
One bathroom
Two entrances
Currently tenanted until 5th Dec 25
@$ 450 per week
Unit 3:
Three bedrooms
One bathroom
Two entrances
Currently tenanted until 5th Dec @ $450 per week
Unit 4:
Two bedrooms
One bathroom
Office space
Two entrances
Currently tenanted until 7th September 25 @ $430 per week
Additional Features:
- Modern Conversions: Four contemporary apartments with high-quality fittings throughout
- Low Maintenance: Well-maintained garden and efficient upkeep
- Rental Returns: High demand in this popular rental area ensures strong returns. rent to increase to $470-$480 per week.
This well-located property combines modern convenience with substantial investment potential. The current setup of four distinct units maximises rental income, while the large corner block offers scope for future development.
