Positioned just 80 metres from the Margate waterfront and village precinct, this is a rare opportunity to secure three self-contained flats on a single freehold title in one of the Peninsula's most tightly held coastal pockets.
Set on a 506sqm block with a generous 17.6m frontage and currently returning $52,520 gross per annum, this is an exceptional opportunity to secure immediate income with all three flats fully leased and professionally managed from day one. Rental income is set to increase to $54,080 per annum from 16 October 2026.
Each flat comprises two bedrooms and one bathroom, with lease expiries staggered across January, June and July 2027, providing flexibility moving forward. All bonds are lodged with the RTA and will transfer to the successful purchaser at settlement.
For investors looking to add value, the original interiors provide exciting potential to renovate and increase future returns. Longer term, the property's General Residential zoning within the Next Generation Neighbourhood Precinct presents potential redevelopment opportunities, subject to council approval.
Located within an easy stroll of Margate Beach, the waterfront, cafés and local shopping, and just minutes from Peninsula Fair, Redcliffe Hospital and Kippa-Ring Station, the lifestyle offering is just as attractive as the investment fundamentals.
Opportunities like this rarely become available on the Peninsula.
Property Highlights:
Three self-contained flats on one freehold title
Fully leased returning $1,010 per week / $52,520 gross per annum
Rental increase to $1,040 per week / $54,080 gross per annum from 16 October 2026
Two bedrooms and one bathroom per flat
506sqm allotment with a 17.6m frontage
Staggered lease expiries across January, June and July 2027
Original interiors with scope to renovate and add value
General Residential zoning within the Next Generation Neighbourhood Precinct
Potential future redevelopment upside (STCA)
Approximately 80m to Margate Beach and village precinct
Within Humpybong State School and Redcliffe State High catchments
Due diligence pack available, including tenancy agreements, Develo report, title search and contract documentation.
Auction On Site | 3:00pm Saturday 15 August, unless sold prior
Open Homes:
Saturday 18 July
Saturday 25 July
Saturday 1 August
Saturday 8 August
Private inspections available by appointment.
Development Disclaimer: Any renders, concepts or illustrations depicting potential redevelopment outcomes, including the illustrated three-townhouse scheme, are indicative only and provided for illustrative purposes. No Development Approval currently exists for the depicted design unless otherwise stated. Interested parties should undertake their own enquiries and seek independent advice regarding zoning, development potential and any approvals required. All future development remains subject to council approval and statutory requirements.
Disclaimer: We have, in preparing this information, used our best endeavours to ensure that the information contained herein is true and accurate, however accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers should make their own enquiries to verify the information contained herein.
Disclaimer
This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes
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