54/30-34 Palmer Street, South Townsville, QLD 4810

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54/30-34 Palmer Street, South Townsville QLD 4810

Offers Over $399,000 | 2 Bed | 2 Bath | 1 Car

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$399k - $419k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 2 Beds 2 Baths 1 Car

Listed: 3 days ago

Updated: 2 hours ago

Overview

Situated on the seventh floor of the established Quest Townsville complex, this apartment offers a unique dual-key configuration that is highly attractive to investors seeking flexible, income-generating assets.

The layout cleverly separates the property into two self-contained units linked by a secure interconnecting door: the primary apartment includes a bedroom, bathroom, kitchenette, internal laundry, and living space; while the adjoining studio features its own bathroom, kitchenette, and storage area. This design provides versatility, allowing for separate tenancies or adaptable living arrangements.

Currently leased through until July 2029 with potential extensions to 2046, the property commands an annual income of approximately $31,513, supported by scheduled 4% yearly rental increases. Notably, the investment benefits from an absence of property management fees, enhancing its yield profile.

Located in Palmer Street, one of Townsville's most vibrant dining and accommodation precincts, the apartment places tenants and owners within easy reach of the CBD, entertainment options, Queensland Country Bank Stadium, and convenient transport links such as the Magnetic Island ferry terminal.

Dual-key apartment on Level 7 within a prominent complex
Offers two separate, lockable accommodation spaces for flexibility
Attractive long-term lease with annual rental escalations
No property management fees benefiting cash flow
Prime inner-city location with immediate access to dining and transport amenities

This property is particularly suited to astute investors looking for a steady rental income stream combined with the option to manage the accommodation components independently, appealing to a wide tenant base from professionals to short-term visitors.

Local Market Insights

In South Townsville, Quiet Listings observed 28 new apartments entering the market over the last 30 days, up from 7 during the previous 30-day period, with an average advertised asking price of $589,084. The property type mix of listed properties is predominantly Houses at 44%, followed by units (26%), and apartments (24%). The most active agency for apartments in the South Townsville area is currently Elite Properties, representing 32% of new listings, followed by McDonough Property Townsville with 25%. 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.