7 Unit Complex on 1,569 m² with HUGE Upside
Astute Investors, Developers & Syndicates Take Note! This is a unique opportunity to secure an entire 7-unit complex on a substantial 1,569 m² double lot in the heart of Margate. Currently configured as 7× 2-bedroom, 1-bathroom units (each with its own parking), the property generates a strong holding income of approximately $150,000–$160,000 per annum at full occupancy. Six units are presently leased at $425/week (on leases through late 2025/2026), with one unit vacant – offering immediate flexibility for rental or owner's use. Positioned across two adjoining lots under one title, this slightly elevated, mostly level site is ripe for redevelopment while providing solid cash flow in the interim.
Key Highlights
7 × 2-Bed, 1-Bath Units:
- Well-maintained and all self-contained, offering comfortable living for tenants or future owner-renovators. Each unit has its own kitchen, bathroom and living space, plus designated garage/carport parking.
Strong Rental Income:
- Currently returning an estimated ~$150k per year in rent with scope to increase. High occupancy history due to the area's rental demand ensures a reliable holding income as you plan any improvements.
Huge Land Area - 1,569 m²:
- Spanning two side-by-side lots, the property offers a very large landholding in a coastal suburb. The block is mostly flat and slightly elevated, making it ideal for future building works. There's ample yard and open space, presenting options to expand or develop further.
Prime Coastal Location:
- Situated in Margate, QLD, a sought-after seaside suburb on the Redcliffe Peninsula. It's just minutes from the beach, transport, shops, and schools, ensuring ongoing tenant appeal and strong long-term value growth.
Motivated Sale - Rare Opportunity:
- Long-term owners are genuine and motivated to sell, presenting an unmissable chance to acquire this high-performing asset. Properties combining such income, land size, and development potential in this area are incredibly rare.
Unbeatable Location:
- This property's central Margate location offers convenience and lifestyle for tenants and future residents alike:
Beach & Leisure:
- Only ~3 minutes' drive to Margate Beach (Suttons Beach) and the waterfront, perfect for enjoying the coastal lifestyle. The Redcliffe foreshore, parks, and walking paths are at your doorstep.
Shopping & Amenities:
- Minutes to Margate Village Shopping Centre for groceries and daily needs, and just 5 minutes to Kippa-Ring Shopping Centre. The popular Redcliffe Botanic Gardens are nearby for a relaxing escape.
Transport:
- Excellent public transport links - a bus stop is a walk away, and it's only a short drive to Kippa-Ring Railway Station (connecting you to Brisbane CBD and surrounding areas). Easy access to major roads/highway for commuters (including the Hornibrook Bridge and motorway).
Schools & Healthcare:
- Within easy reach of quality schools such as Southern Cross Catholic College and Clontarf Beach State High, plus the Redcliffe Hospital a short drive away. The family-friendly nature of the area underpins strong rental demand and community growth.
Value-Add Potential & Development Upside:
- Beyond its immediate income stream, 205–207 Victoria Ave offers enormous development potential and value-add opportunities (Subject to Council Approval – STCA). Possible avenues include:
Strata Titling & Individual Sell-Off:
- Capitalise on the existing 7-pack of units by converting to strata title (STCA), allowing you to sell each unit individually, unlocking higher combined value per unit. Renovate and sell one or more units while renting out the others for incremental profit without selling the entire complex.
Redevelopment / Adding More Dwellings:
- Leverage the large land size and favourable zoning to undertake a major redevelopment. Options include constructing townhomes, a boutique apartment complex, or multiple detached houses. A new project could unlock significant capital value, while short-term additions or extensions boost rental yield immediately.
Subdivision of the Lots:
- With two underlying lots, a straightforward subdivision or title separation is another avenue (STCA). You could sell off one lot to raise capital while retaining the other for income or development, enabling staged project execution.
Short-Term Rentals (Airbnb Conversion):
- Each unit is fully self-contained, making them ideal for holiday rentals. Capture Margate's growing tourist market to significantly boost yields, especially during peak seasons.
Alternate Use - Childcare/Community Facility:
- The generous land size and central location also suit non-residential development. Subject to approvals, the site could be repurposed for a childcare centre, medical clinic, or community facility, serving local families while generating premium income.
The Opportunity - Don't Miss Out:
- This property offers an extraordinary combination of coastal location, immediate income, and long-term development upside. Whether you're seeking steady returns with growth, your next development project, or a syndicate portfolio addition – 205–207 Victoria Avenue is a must-see.
Sale Method: Fixed Date Sale, offers closing 28th July 2025. Act quickly to explore this rare Margate site before it's gone.
(STCA: Subject to Council Approval. All development potential suggestions are subject to relevant planning approvals and buyer due diligence.)
