OFF MARKET

164-172 Spence Street
Bungalow QLD 4870

Bedrooms: 3
Bathrooms: 2
Car spaces: 1
Land area: 5123m2
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Property Details for 164-172 Spence St, Bungalow

164-172 Spence St, Bungalow is a 3 bedroom, 2 bathroom Unit with 1 parking spaces. The property has a land size of 5123m2.

Building Type
Unit
Land Size
5123m2
Local Government
Cairns Regional
Lot/Plan
1/SP188128

Last Listing description (September 2024)

This well presented Ground Floor apartment away from street is a furnished 3 bedroom apartment returning a very solid $490 p/w increasing to around $530/week in April 2025 with long term tenants already in place willing to stay on or with 2 months notice to remove for you to move in yourself.

Body corp. fees approx. $1838 p/quarter
Council rates and water approx. $2900 p/annum

Rent $490.00 p/w increasing April 2025
Purchase price offers over $419,000
Gross Yield 6.1 %

Property description:
3 bedrooms all with built Ins to all rooms, master with Ensuite
2 Bathrooms
2 toilets ( main bathroom, Ensuite)
Patio leading off bed room 3
Ceiling fans to all bedrooms, living and dining area
Open plan living and dining area
Air conditioning to all rooms
Modern kitchen with built in appliances
Dishwasher and overhead cupboards
Single allocated car port carpark
NBN FTTP connection available
Good sized private rear garden
Large entertainment area with pool in complex
Walk to City, Bus, schools and shops for convenience
Great onsite managers to protect and grow your investment

NOTE: Pictures of interior of unit are not current due to tenants belongings in the unit.
(Watch your investment portfolio grow with excellent presentation to the Security gated complex complimented by lush landscaping, Walk to shops, transport and schools for ease makes this a must, act now. )

***Inspection by appointment only.

Please note all gross yields and return details are approximate and are based on the asking price only (not the sale price), the gross return also does not include any tax credits or deductions the purchaser may be entitled to, and is based on information provided by a number of sources. This information is provided as a guide only and is based on figures provided to Onsite Property Pty Ltd and whilst this has been prepared in good faith and with due care, no liability for negligence is otherwise assumed by Onsite Property Pty Ltd , its principals, agents or servants. Please conduct your own investigations into the subject property to satisfy yourself with the matters concerning the property.

Property History for 164-172 Spence St, Bungalow, QLD 4870

A timeline of how this property has performed in the market
Listed for Rent
$570/w
08 Dec 2023
  • 07 Aug 2024
    Listed for Sale Under Contract
  • 07 Dec 2022
    Listed for Rent - Price not available
  • 09 Jan 2020
    Listed for Sale $280,000
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About Bungalow 4870

The size of Bungalow is approximately 2.2 square kilometres. It has 3 parks covering nearly 1.9% of total area. The population of Bungalow in 2011 was 2,164 people. By 2016 the population was 2,159 showing a population decline of 0.2% in the area during that time. The predominant age group in Bungalow is 20-29 years. Households in Bungalow are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Bungalow work in a trades occupation. In 2011, 35.1% of the homes in Bungalow were owner-occupied compared with 34.7% in 2016.

Bungalow has 1,948 properties. Over the last 5 years, Houses in Bungalow have seen a 55.86% increase in median value, while Units have seen a 51.99% increase. As at 31 October 2024:

  • The median value for Houses in Bungalow is $517,489 while the median value for Units is $307,199.
  • Houses have a median rent of $463 while Units have a median rent of $390.
There are currently 20 properties listed for sale, and 7 properties listed for rent in Bungalow on OnTheHouse. According to CoreLogic's data, 86 properties were sold in the past 12 months in Bungalow.

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.