501/38 Gregory Street, Condon QLD 4815

gated complex, resort pool, low-maintenance | three-bedroom unit with ensuite and walk-in robe | upgraded flooring and paint | Condon location near Townsville The property presents a strong buying case for those seeking a turnkey unit with genuine separation between bedrooms and living areas, a feature rarely found in complexes of this age and price point. The master suite with walk-in robe and private ensuite effectively positions this as owner-occupier quality, while the open-plan layout and recently refreshed interiors remove immediate renovation burden. For an investor, the two dedicated car spaces and secure gated entry are tangible differentiators in a rental market where parking and security directly influence tenant retention. The primary risk is the body corporate fees at approximately $4,430 per annum, which erode net yield and must be factored into any hold strategy. Council rates are similarly above average for the area. The 72% appreciation since the 2024 sale is notable but should be viewed as market catch-up rather than a trajectory that will repeat. Opportunities lie in the complex’s resort-style pool and low-maintenance appeal attracting professionals or downsizers, a demographic with stable rental profiles. Hold this property for steady rental income and capital preservation, not for rapid gains.