2037/55 Cavenagh Street, Darwin City, NT 0800

This unique second-floor title comprises two separately contained apartments – 2037A, a spacious 2-bedroom residence, and 2037B, a well-appointed 1-bedroom apartment – offering exceptional flexibility to suit a wide range of buyers. Whether you're an astute investor seeking dual rental income, an owner-occupier looking to offset your mortgage, or a buyer searching for a versatile dual-living opportunity, this property presents an outstanding proposition.

For owner-occupiers, the possibilities are endless. Live comfortably in the larger two-bedroom apartment while renting out the one-bedroom apartment to generate additional income, helping reduce your mortgage repayments. Alternatively, the second apartment could provide the perfect space for extended family, adult children, visiting guests, or even a private home office, all while maintaining independent living.

Positioned on the second floor, both apartments enjoy abundant natural light and pleasant city outlooks, creating bright, comfortable living environments. Apartment 2037A features generous open-plan living and dining spaces flowing seamlessly to the bedrooms, while Apartment 2037B offers a functional, low-maintenance layout ideal for singles, couples, or tenants seeking the convenience of CBD living.

Both apartments are fitted with modern kitchens, split-system air conditioning throughout, and a combination of carpeted living and bedroom areas with tiled wet zones, ensuring comfortable, move-in-ready accommodation with minimal ongoing maintenance.

Residents also enjoy access to an impressive range of resort-style facilities, including a fully equipped gym, a sparkling swimming pool with shade sails, poolside BBQ and entertaining areas, secure lobby access with staffed reception, and lift access, perfectly complementing Darwin's tropical lifestyle.

Located in the heart of Darwin CBD, you'll have cafés, restaurants, retail shopping, and Woolworths just steps from your door, while the Darwin Waterfront Precinct and Cullen Bay Marina are only moments away, placing the very best of city living within easy reach.

Currently leased as two separate apartments, the property offers immediate rental income for investors. Equally, with the flexibility to occupy one apartment and lease the other in the future (subject to existing tenancy arrangements), it represents a rare opportunity to enjoy city living while creating an additional income stream from the same property.

Key Features

✔ Dual-key title with two separately leased apartments
✔ 2037A – 2-bedroom apartment, currently leased at $500 per week
✔ 2037B – 1-bedroom apartment, currently leased at $350 per week
✔ Combined gross rental income of $850 per week ($44,200 per annum)
✔ Full-sized kitchens in both apartments
✔ Air conditioning throughout
✔ Carpeted living areas and bedrooms with tiled wet areas
✔ Second-floor position with light-filled interiors

Building Amenities

🏊 Resort-style swimming pool with shade sails
💪 Fully equipped residents' gym
🍽️ Poolside entertaining area with communal seating and BBQ facilities
🛎️ Staffed reception desk
🔒 Secure lobby and elevator access

Lifestyle & Location

🏙️ Walk to Darwin CBD offices, cafés, restaurants, and entertainment
🛒 Woolworths and Darwin GPO within walking distance
🏖️ Approximately 5 minutes to the Darwin Waterfront Precinct
⛵ Approximately 5 minutes to Cullen Bay Marina
🛴 Easy scooter access throughout the city

Investment Highlights

💼 Two separate leases in place providing immediate dual-income returns
📍 Prime Darwin CBD location with strong and consistent rental demand
📈 Excellent potential to increase rental returns as leases are renewed
🏨 Flexible ownership options – retain as a dual-key investment or explore future opportunities (subject to relevant approvals)

Current Leasing

2037A: Currently leased at $500 per week, with the lease ending soon.
2037B: Currently leased at $350 per week on a periodic lease.

Estimated Current Rental Potential

2037A: Approximately $600–$650 per week
2037B: Approximately $400–$420 per week

Rental estimates are indicative only and should be independently verified by prospective purchasers.

Management Flexibility

✔ Investors have the flexibility to lease the property through any reputable property management agency or via Metro Advance Apartments, providing a hassle-free, set-and-forget investment.

✔ Metro Advance Apartments currently manages approximately 70 serviced apartments within the complex, offering experienced on-site management, professional guest services, and ongoing property maintenance for owners seeking a streamlined investment experience.

Property Details

📐 Area Under Title: 124 sqm
🏗️ Year Built: 2004
💳 Council Rates: Approx. $1,758 per annum
💰 Admin Fund: Approx. $2,491.65 per quarter
💰 Sinking Fund: Approx. $409.63 per quarter
📋 Zoning: CB (Central Business)
📋 Settlement Period: 45 days (or variation on request)
📋 Deposit: 10% (or variation on request)
📋 Easements as per Title: None found

Don't miss your chance to secure this rare dual-key investment in the heart of Darwin CBD. With two established income streams, strong potential for rental growth, excellent resident facilities, and flexible management options, this is an outstanding opportunity for investors seeking reliable returns with minimal ongoing involvement.

Contact Shyam Thapa from Wealthmax Real Estate on 0414 287 500 to arrange your inspection or attend a scheduled open home.

All information has been sourced from providers deemed reliable; however, interested parties are advised to conduct their own independent enquiries. Rental estimates are provided as a guide only and are subject to market conditions.

Type

Unit

Bedrooms

3

Bathrooms

2

Parkings

1

House Size

113 m²