Triple Income Opportunity in the Heart of Parramatta Park

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49 Charles Street, Parramatta Park QLD 4870

$880,000

Search Band Search Visibility Band

$800k - $880k High Confidence Calculated based on strong search observations.

House 5 Beds 3 Baths 2 Cars 405 m²

Listed: 10th Jul 2026

Updated: 2 days ago

Overview

This uniquely configured high-set Queenslander, situated on a sizeable 405 square meter allotment just moments from the Cairns CBD, offers a rare investment prospect or flexible living arrangement. Converted into three self-contained residences, this property retains the quintessential charm of a classic Queenslander whilst delivering multiple income streams, appealing to investors or owner-occupiers seeking additional revenue.

The upper level presents a spacious three-bedroom residence that integrates open plan living and dining with a functional kitchen and a generous balcony perfect for entertaining or relaxing. The central bathroom services the sizeable bedrooms, providing comfortable family living accommodations.

Downstairs has been imaginatively reimagined into two independent one-bedroom apartments, each boasting an ensuite, walk-in robe, kitchen, and open plan living areas. These spaces are ideally suited for long-term tenants, extended family members, or those desiring a private income unit.

The property benefits from off-street parking and a solar power system that contributes to sustainability and cost savings. Additionally, the generous yard allows scope for further improvements subject to council approval, adding to the long-term value and versatility of the site.

Locations like Parramatta Park, especially so close to the Cairns CBD, enjoy consistent rental demand owing to their proximity to major employment hubs, essential services, educational institutions, public transport, and a vibrant array of cafes and restaurants, ensuring both tenant appeal and convenience.

Three-bedroom main residence with open-plan living and large balcony
Two spacious one-bedroom self-contained apartments with ensuites
Multiple income opportunities from three tenancies
Solar power installation supporting energy efficiency
Off-street parking for two vehicles
Generous yard with potential for future enhancements (STCA)

This property is ideally suited for investors seeking strong, diversified rental returns or for purchasers needing flexible accommodation options such as multi-generational living. The blend of classic architectural appeal and contemporary functional layouts make this an exceptional offering on the city fringe.

Local Market Insights

In Parramatta Park, Quiet Listings observed 87 new houses entering the market over the last 30 days, up from 43 during the previous 30-day period, with an average advertised asking price of $917,069. The property type mix of listed properties is predominantly Houses at 47%, followed by units (25%), and apartments (17%). The most active agency for houses in the Parramatta Park area is currently Ray White, representing 15% of new listings, followed by Inspire Real Estate Cairns with 14%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.