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194 Spence Street, Bungalow, Qld 4870-Image

194 Spence Street, Bungalow, Qld 4870

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Block Of Units

Type

Bedrooms

Bathrooms

Parkings

881 m²

Area

Last updated on Saturday, August 01, 2026 ( See property details for 194 Spence Street, Bungalow, Qld 4870)

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AI Property Insight

AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A versatile mixed-use property in Cairns' CBD fringe offering immediate income, development potential, and strategic positioning for investors and owner-occupiers.

🏡 Property Highlights

Strategic CBD fringe location with strong street frontage and exposure
Immediate income from two spacious upstairs apartments
Flexible low impact industry zoning supporting mixed-use operations
Potential to convert ground-floor commercial units into residential apartments
Solar power system installed for long-term efficiency and cost savings
Development potential at the rear of the site, subject to council approval

✨ Key Features

Built-in Robes
Open-Plan Living
Separate power metering
Solar Panels
Fully fenced
Ample off-street parking
Undercover parking
Water tank
Security gates
Potential for future development

Suburb and Property Insights of Bungalow, QLD 4870

Cairns is a vibrant regional hub renowned for its tropical lifestyle, strong tourism industry, and growing commercial sector. The suburb offers excellent accessibility to Cairns CBD, with a mix of retail, hospitality, and residential developments. Its strategic location supports diverse business opportunities and long-term growth. The area benefits from ongoing infrastructure improvements and a welcoming community atmosphere. This makes it an ideal location for investors seeking high yield and future development prospects.

Frequently Asked Questions

What is the current rental income and potential for growth?

The residential component currently generates approximately $52,000 per annum, with potential to increase through renovations and reconfiguration. The commercial spaces offer additional leasing opportunities at market rates, supporting future income growth.

What are the zoning restrictions and development possibilities?

The property is zoned Low Impact Industry, allowing for mixed-use operations. There is potential to convert ground-floor commercial units into residential apartments, subject to council approvals, and develop the rear portion of the site.

Are there any existing building or planning restrictions?

Development at the rear of the property is subject to council approval. The existing structures are well-maintained, but any modifications or expansions will require relevant permits.

What are the ongoing costs associated with the property?

Annual costs include approximately $14,030 in council rates. The solar power system helps reduce operating costs, and other expenses will depend on future renovations and leasing arrangements.

Is the property suitable for owner-occupiers or investors?

Yes, the property offers immediate income from existing tenants, with options for future development or reconfiguration, making it suitable for both owner-occupiers and investors seeking yield and growth potential.

What to ask about this property to agent?

Are there any zoning or planning restrictions that could limit future development or modifications? What are the potential costs and approvals required to convert the commercial units into residential apartments? Are there any existing or past issues with the property's structure, drainage, or services? Is there any history of flooding, bushfire risk, or other environmental hazards in the area? Are there any upcoming planning or infrastructure projects nearby that could impact the property’s value or use?

194 Spence Street, Bungalow, Qld 4870 - More Details

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Type: Block Of Units
Bedrooms: 6
Bathrooms: 2
Parkings: 6
Area: 881 m²

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194 Spence Street, Bungalow, Qld 4870

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