23 Lumley Street, Parramatta Park QLD 4870

Located in the most sought after street in central Parramatta Park - surrounded by character homes and multi-use dwellings this property really is your Urban Sanctuary. Perfect for an investment or to owner occupy ...

For the Investors:
This well maintained Queenslander is situated in a high growth area which is extremely popular for student accommodation and Air B&B. With the 15 million dollar Ergon Energy project that has just been completed around the corner and with the 600 million dollar Nova project about to commence on Spence St, there is no vacant land left in this pocket of the city. Properties like this will only become harder and harder to find.

Current yield on a long-term rental basis is a healthy 6.6% at $550 rent per week or with room to grow if you were to utilise the ever-growing student market or Air B&B market.

Other developments in the area include;
- A huge government precinct that has commenced development in adjoining Draper St (in the building that was originally ‘Masters Hardware’)
- The Harvey Norman re-development on Spence/Draper St
- The Cairns Central Shopping Centre 60 million dollar re-vamp (that will include a new Woolworths – all a stones throw from this property)

On the street itself, there has been a multi-million dollar, award winning, student accommodation built in the past couple of years and there are numerous other houses currently being re-developed for more student friendly accommodation along the street.

Why invest in a unit in town when you can land bank an entire home on a pocket of land in one of the most sought after, streets closest to the Cairns CBD?

This street is also high in demand for development because of its zero flood risk and that floor levels do not need to raised to meet council approval.

For the owner occupiers:
As you enter through the private automatic gates and keypad entry you will immediately see the attention to detail this multiple use home provides.  The internal staircase links both the upstairs home yet provides the option of running an AirBNB/rental downstairs with its own separate entrance.  The perfect home for the professional couple looking to live inner city and enjoy an additional income stream or a home with room for the growing family and visiting relatives !
Polished timber floors, casement windows, french doors, tongue and groove walls and high ceilings complete the original character of this home - with an extra large backyard facing south east you will catch all of the breezes whilst enjoying the views of landscaped gardens, the perfect place to watch the gorgeous Torres Strait Imperial Pigeons and listen to the croaking green tree frogs.

Upstairs:
- New kitchen and Updated bathroom
- 2 large bedrooms - master enjoying extra storage and views of the backyard
- Large dining room and separate living
- Custom louvers, new fans and electrical

Downstairs:
- Separate entrance
- Car accommodation x 2
- Separate kitchenette  
- Additional living
- Bathroom
- 2 rooms (currently used as bedrooms)
- Not legal height however plenty of room and able to be let

Only a short stroll to Cairns Central and walking distance to fantastic restaurants and galleries - you can even see the fireworks from the Showground and Esplanade!

A comprehensive list of improvements is available - hurry, this home won't last long!