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Back 5/11 Mermaid Avenue
Off Market

5/11 Mermaid Avenue

Mermaid Beach QLD 4218

2
1
1
Apartment
Last sold for $730,000
Simon FrancisSimon Francis, last sold this property on 20 June 2024 after 30 days on market.

Overview

TWO BEDROOM APARTMENT MERMAID BEACH - 250 METRES TO THE BEACH

This big 2 bedroom unit is just waiting for a new owner to breathe new life and resuscitate this big old bad boy. Situated in the heart of the Gold Coast, right in the middle of the action, there is no reason to worry about petrol prices, as you do not need a car on weekends. You have the new link of the light rail with the light rail station within 300 metres walk. This is entry point level to purchase in the most tightly held beachfront suburb in South East Queensland. This block of 9 units is situated on 1,108m2 land parcel of RD8 high density, unrestricted height limit for a new development, and right in the heart of the Gold Coast action. When you hear location, location, location, this is the sort of location all buyers and sellers dream about. Walk to the beach, walk to the 4th largest shopping centre on the Gold Coast, walk into the main entertainment and dining precinct of Broadbeach, Casino and the Gold Coast Entertainment centre. With the property at 11 Mermaid Avenue being grossly under-developed, with only 9 units, meaning there are, and will be many developers and construction companies, that will be knocking on your door at some point in the future wanting to give you and the other owners a big cheque to sell out to them. The developers who buy the property will knock down the 9 units and put up a residential tower / high-rise that can go up 28 or so levels (STCA) and have 4 units per floor or so. Giving all owners excellent uplift in a potential re-sell in the future. This large unit is the perfect size for a low budget renovation project, all we need is a project manager with a flair for interior design to capitalise on this location. Great size living, separate designated dining area off the kitchen. The dining opens out to big living with balcony opening on the northern aspect. The kitchen is the perfect space with the floorplan to turn this big apartment into something special. A separate laundry easily big enough for a bathroom conversion. 2 good size bedrooms with an extra large single lock up garage and heaps of storage. Looking for a good big old unit to renovate to customise to your new beach lifestyle or looking for the perfect first investment to put a foot into the hottest Queensland beachside real estate market and watch the growth through this most tightly held beachside suburb. Potential buyers should make their own inspections and enquiries and seek their own independent legal advice before signing a contract of sale, to satisfy themselves that all details relating to the property are correct.

Features

2 bedrooms
1 bathroom
1 carspace
Apartment

Estimated Value

Based on this property and similar 2 bedroom apartments sold in Mermaid Beach over the last 12 months, the estimated median property value of 5/11 Mermaid Avenue is $1.1m.

Median value
$1.1m
Estimated value range
$750k - $2.27m
Median days on market
29
Estimated value trend
17%
increase over the last 12 months
Average days on market is based on recent, comparable sales in Mermaid Beach. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 5/11 Mermaid Avenue

2024
Sold
$730,000
Private Sale/Treaty on 20 Jun 2024 by Simon Francis, of John Henderson Real Estate
2024
Rented
Undisclosed
Leased on 20 May 2024 by Coastal Broadbeach
2023
Rented
Undisclosed
Leased on 26 Oct 2023 by John Henderson Real Estate

Happy sellers in Mermaid Beach

89%
89% of sellers in Mermaid Beach reported that their sale price either exceeded or met their price expectations.

Mermaid Beach stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 61 reviews in Mermaid Beach over the last 12 months.

Local market activity for 2 bedroom apartments in Mermaid Beach

In the last 12 months, 77 two-bedroom apartments similar to 5/11 Mermaid Avenue, have been sold.

This represents a 11% decrease in two-bedroom apartments sales when compared to the previous 12 months.

Nearby agents

Compare and contact these top performing agents who’ve delivered exception customer service for their clients in Mermaid Beach

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Trent Hones

Trent Hones is an award winning recommended agent for Mermaid Beach.  They have 25 local sales and collected 18 local reviews across the last 12 months.

  •   5   (117 reviews)
  •  18 Reviews in Mermaid Beach
  •  25 Sales in Mermaid Beach
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Guy Powell

Sellers who recommend Guy Powell have praised them for being clear communication, local expert, friendly, honest, responsive, supportive and easy to work with

  •   5   (314 reviews)
  •  9 Reviews in Mermaid Beach
  •  10 Sales in Mermaid Beach
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Paulette Koriacos

Paulette Koriacos is a recommended agent for Mermaid Beach.  They have 5 local sales and collected 5 local reviews across the last 12 months.

  •   5   (31 reviews)
  •  5 Reviews in Mermaid Beach
  •  5 Sales in Mermaid Beach
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Gypsea Youngsmith

Gypsea Youngsmith is a recommended agent for Mermaid Beach.  They have 2 local sales and collected 5 local reviews across the last 12 months.

  •   5   (30 reviews)
  •  5 Reviews in Mermaid Beach
  •  2 Sales in Mermaid Beach
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