318 McLeod Street, Cairns North

Perfectly positioned just moments from the Cairns CBD, Hospital, Esplanade and public transport, this high-set Queenslander presents an exceptional opportunity to secure a high-performing investment with the flexibility of two self-contained residences. Currently returning approximately $71,000 per annum, the property offers immediate income together with outstanding potential for investors, multi-generational families or owner-occupiers seeking an additional revenue stream. Rich in traditional Queenslander character, the upper level showcases polished timber floors, high ceilings, tongue-and-groove walls and casement windows, while the legal-height lower level provides a fully self-contained two-bedroom apartment. Set on a fully fenced 539m² Medium Density Residential allotment within the sought-after Cairns State High and Edge Hill State School catchments, this is a versatile offering in one of Cairns' most consistently sought-after city-fringe locations. Features • Dual-income investment with two self-contained residences • Approximate rental income of $71,000 per annum • Estimated 6.5% net rental yield • Upstairs: Three-bedroom Queenslander with polished timber floors, high ceilings and classic character • Downstairs: Legal-height two-bedroom apartment with separate living, kitchen and bathroom • Fully fenced 539m² Medium Density Residential allotment • Lock-up garage with gated entry • Both residences currently tenanted • Strong rental location close to Cairns Hospital, CBD, Esplanade and public transport • Within the popular Edge Hill State School and Cairns State High School catchments Whether you're expanding your investment portfolio, seeking dual-living flexibility or looking for a property with multiple income streams, this city-fringe Queenslander offers an outstanding combination of return, location and long-term potential.