1 & 2/33 Colvin Street

Set on a 409m² allotment in the tightly held suburb of Oonoonba, this dual-income duplex presents a rare, high-quality investment opportunity with immediate cashflow and strong upside. Strategically positioned close to the Townsville CBD, Lavarack Army Barracks, Townsville University Hospital and James Cook University, this property is perfectly aligned with high-demand tenant demographics, ensuring consistent rental appeal and long-term occupancy security. The duplex comprises two fully self-contained units, offering flexibility, income security and future growth potential: Unit 1 is currently tenanted until October 2026 and is significantly under-rented at $480 per week, presenting a clear value-add opportunity through future rental uplift. Unit 2 is owner-occupied and ready to move into, providing the option to: - Lease immediately for full dual-income returns - Owner-occupy one side while generating income - Hold as a long-term growth and yield asset This is a rare opportunity to secure a dual-income asset with: - Immediate income - Built-in rental upside - Strong tenant demand drivers - Long-term capital growth fundamentals Investment Highlights: - Duplex on 409m² block - Two separate, self-contained dwellings - One unit leased until October 2026 - Unit 1 under-rented at $480/week (clear rental growth potential) - One unit vacant and ready to lease or occupy - Prime location near major employment, education and health hubs - High-demand rental corridor - Strong long-term investment fundamentals This is a strategic acquisition for investors seeking income now, upside later, and long-term asset security in one of Townsville's strongest-performing locations. Rare dual-income assets in this location are tightly held and highly sought after opportunities like this do not last.