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Ideally positioned in a tightly held coastal pocket, this exceptional property offers an attractive combination of strong immediate income and future redevelopment potential just moments from the sand and creek.
Set on a 688m² parcel with approximately 21 metres of street frontage, the site is zoned RD5 Medium Density Residential and benefits from a 29-metre height limit, allowing flexibility for a range of value-add or redevelopment outcomes, plus the potential for a 50% height limit uplift (STCA).
The existing improvements comprise of six renovated two-bedroom, 1 bathroom apartments, each thoughtfully updated to meet modern rental demand. Constructed in rendered brick and tile, the building presents as a low-maintenance and a solid investment with eight on-site car spaces, further enhancing tenant appeal.
The property currently generates an impressive $203,840 gross per annum, delivering a robust holding income while plans are made for future optimisation or redevelopment.
Lifestyle credentials are outstanding, with the beach located approximately 200 metres away and Tallebudgera Creek just 300 metres from the doorstep, placing residents within walking distance of some of the Gold Coast's most desirable natural amenities.
Key Points:
- 6 x renovated 2-bedroom, 1-bathroom apartments
- 688m² site with an approx. 21m frontage
- RD5 Medium Density zoning with 29m height allowance, plus the potential for a 50% height limit uplift (STCA)
- Strong holding income of $203,840 gross pa, however current market conditions indicate a potential return of $220,000 - $240,000 gross pa.
- Returning a median unit price growth rate of approx.10% pa over 3 years and 15% pa over 5 years for Palm Beach. Source: ***
- Rendered brick and tile construction
- 8 on-site car spaces
- Building Age: 1982
- Units are strata titled
- Total internal size: 395m2 plus parking
- Council rates: $16,776.36 pa
- Water rates: $7,733.28 pa
- Approx. 200m to the beach and 300m to Tallebudgera Creek
- School catchment zones for Palm Beach State School (850m) and Palm Beach Currumbin State High School (3.5km).
This is a rare opportunity to secure a high-performing coastal asset in a location underpinned by lifestyle appeal, rental demand, and long-term growth.
Disclaimer:
All information provided (including but not limited to property area, floor size, land dimensions, price, address, building age and condition, floor plans, statistics, amounts and general property descriptions) has been obtained from sources we believe to be reliable. However, we cannot guarantee its accuracy and disclaim all liability for any errors, omissions, inaccuracies, or misstatements. Stone Real Estate accepts no responsibility for any direct, indirect, incidental, or consequential loss, damage, or expense-whether arising from negligence or otherwise-resulting from reliance on the information contained on this website or in any related materials. All prospective purchasers should make their own enquiries, verify the information independently, and seek appropriate legal and financial advice. Prices displayed are current at the time of publication but may be subject to change. This property may be offered for sale by auction or without a price, and as such, no price guide can be provided. Any price bracket displayed may be an automated filter for website functionality purposes only.
