50 Bisschop Street, Deception Bay QLD 4508

Multi-unit building | 3 separate income streams | 350m² site | 1-bed duplex currently leased at $450pw The property presents a rare multi-unit configuration on a single title, with three discrete dwellings — a house and two duplex units — offering immediate rental income diversification. The currently tenanted 1-bedroom duplex provides a verified $450 per week return, while the larger house and second unit create significant vacancy upside for an owner-occupier or investor seeking to optimise yield. Positioned in a street with 65% owner-occupancy and average tenure of six years, the location signals stable demand from long-term residents rather than transient renters. This suits a buyer who values cash flow from day one with the option to occupy one dwelling and rent the others. The primary risk is the site’s small 350m² footprint, which limits future subdivision or development potential despite the 22m² vacant lot. The bushfire and flood overlays introduce insurance and compliance costs that must be factored into holding expenses. However, the property’s existing subdivision into three rentable units on one lot creates a built-in hedge against vacancy — a single vacancy still leaves two income streams intact. The buyer should hold this as a long-term income property, using the duplex rental to cover holding costs while the house appreciates in a suburb with median house prices trending above $1.1 million.