194 Spence Street, Bungalow, QLD 4870 | House for sale | OnTheHouse
 
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194 Spence Street
Bungalow QLD 4870

Bedrooms: 6
Bathrooms: 2
Car spaces: -
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Mixed-Use Investment | Residential Income + Commercial

High-Yield Mixed-Use Investment with Strong Upside in Prime CBD Fringe Location
Ray White Cairns proudly presents an outstanding opportunity to secure a versatile freehold property in a highly strategic location just minutes from the Cairns CBD. Zoned Low Impact Industry, this substantial mixed-use asset offers immediate income together with significant future growth potential.
Set on a generous 881m² allotment, the property comprises a well-balanced combination of residential and commercial space, making it ideal for investors seeking diversified income or owner-occupiers looking to operate a business while benefiting from additional rental returns.
The first floor features two spacious three-bedroom apartments, each approximately 93m², complete with kitchen and open-plan living areas. The residential component is currently returning approximately $49,000 per annum, providing a secure income stream.
On the ground floor are two commercial tenancies totalling approximately 200m², currently vacant and ready for occupation or leasing. With potential rental rates of $250-$300 per square metre per annum, the commercial component presents excellent upside for the incoming purchaser.
With a total building area of approximately 400m², separate metering for each tenancy and solar power installed, the property is well configured for long-term investment performance.
The fully fenced block offers excellent street presence, ample off-street parking and secure undercover parking at the rear via convenient side access.
The rear section of the property also provides future development potential, with scope for additional buildings, storage or expanded parking facilities (subject to council approval).
Investment Highlights
Low Impact Industry zoning
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Property Details for 194 Spence St, Bungalow

194 Spence St, Bungalow is a 6 bedroom, 2 bathroom House. The place is currently for sale with Ray White Cairns Beaches.

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About Bungalow 4870

The size of Bungalow is approximately 2.2 square kilometres. It has 3 parks covering nearly 1.9% of total area. The population of Bungalow in 2016 was 2159 people. By 2021 the population was 2358 showing a population growth of 9.2% in the area during that time. The predominant age group in Bungalow is 30-39 years. Households in Bungalow are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Bungalow work in a trades occupation.In 2021, 36.90% of the homes in Bungalow were owner-occupied compared with 34.70% in 2016.

Bungalow has 1,981 properties. Over the last 5 years, Houses in Bungalow have seen a 76.63% increase in median value, while Units have seen a 113.36% increase. As at 30 April 2026:

  • The median value for Houses in Bungalow is $638,404 while the median value for Units is $434,060.
  • Houses have a median rent of $590 while Units have a median rent of $440.
There are currently 15 properties listed for sale, and 6 properties listed for rent in Bungalow on OnTheHouse. According to Cotality's data, 98 properties were sold in the past 12 months in Bungalow.

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Brad Davidson
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Luke Bantoft
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Ray White Cairns Beaches
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