10/31-33 Passage Street, Cleveland QLD 4163
10/31-33 Passage Street, Cleveland QLD 4163
3 bed apartment | two balconies | 172 mยฒ lot | Cleveland State School catchment
A three-bedroom apartment with two balconies is uncommon in Cleveland’s unit market, which gives this property a genuine edge for buyers wanting more space without moving into a house. The private balcony off the main bedroom adds a layer of appeal that typically attracts downsizers or small families seeking a low-maintenance coastal lifestyle. Being within the Cleveland State School catchment further strengthens its position for owner-occupiers who prioritise schooling convenience. The 172 mยฒ lot is generous for an apartment, suggesting the unit may feel more spacious than typical stock in the area.
The absence of building age, floor level, and finish quality in available details means the property’s actual condition and position within the complex could materially affect its value. A lower floor or older construction might require more immediate maintenance or lack the modern fixtures that buyers in this price range often expect. Buyers should verify whether the two balconies are usable and well-oriented, as poor aspect or limited privacy could reduce their perceived benefit. The single car space may also be a constraint for households with two vehicles, which is worth factoring into any price assessment.
Detailed Independent Property Report preparedย by PropCred Analyst team forย 10/31-33 Passage Street, Cleveland QLD 4163
Market Insight:
Cleveland is a mature, owner-occupied suburb with a professional demographic, positioned as a relatively affordable coastal alternative for interstate buyers from Sydney and Melbourne. This migration, alongside low inventory, is driving strong demand, evidenced by houses selling in approximately 24 days. Recent annual price growth is robust, ranging from 10.6% to 18.1% for houses, supported by very low vacancy rates and solid rental yields. Future growth is underpinned by Southeast Queensland’s infrastructure pipeline, including the 2032 Olympics, though key constraints are acute supply shortages and affordability pressures from significant price appreciation and higher interest rates.