89 Petrel Avenue, Mermaid Beach, Gold Coast

Seize an outstanding investment opportunity with this well-maintained block of three strata titled units, ideally situated in one of Mermaid Beach's most coveted locations. Key advantages include significant future redevelopment potential, leveraging the property's 405sqm land parcel with a 12.4m frontage and 31.8m depth.

This is a rare chance to secure prime beachside real estate, perfect for investors seeking immediate rental returns alongside strong capital growth prospects. Offering multiple income streams and long-term development possibilities, this versatile property combines investment appeal with a relaxed coastal lifestyle. Residents enjoy effortless access to vibrant cafés, renowned restaurants, and boutique shops within walking distance, ensuring both convenience and a thriving community atmosphere.

However, it's the enviable lifestyle that truly sets Mermaid Beach apart. The suburb has retained its relaxed coastal charm, with a vibrant selection of cafés and restaurants adding to its appeal, including the new Oxley precinct, with word class dining at your fingertips. Residents also enjoy effortless access to the lively hubs of Broadbeach and Burleigh Heads, home to premier shopping, dining, and entertainment precincts, including Pacific Fair, The Star at Broadbeach, and the Gold Coast Convention and Exhibition Centre.

Property Features

• Three units total with two ground-floor units of two bedrooms and one bathroom each, and a first-floor unit featuring three bedrooms and two bathrooms.

• Renovated in 2015, enhancing their appeal with contemporary aesthetics and functional design

• Live in one and rent the others out

• These units collectively generate a total rental income of $2,300 per week

• Air conditioning recently replaced with new units

• Individually titled, tenants pay for all water usage

• Town Planning - RD5

*Denotes approximate figure, boundary lines indicative only

UNIT 1

Council Rates: Approx. $2,348.73 half yearly

Water Rates: Approx. $453.57 per quarter

Rental Appraisal: Approx. $750 - $800 per week

Current Rent: $650 per week

Lease End: 01/09/2025

UNIT 2

Council Rates: Approx. $2,348.73 half yearly

Water Rates: Approx. $453.58 per quarter

Rental Appraisal: Approx. $750 - $800 per week

Current Rent: $700 per week

Lease End: 27/07/2026

UNIT 3

Council Rates: Approx. $2,348.73 half yearly

Water Rates: Approx. $453.56 per quarter

Rental Appraisal: Approx. $1,000 - $1,050 per week

Current Rent: $950 per week

Lease End: 11/09/2025

Disclaimer: The above information is accurate to the best of our knowledge; however, we advise that all interested parties make their own enquiries as we will not be held responsible for any variation that may apply to this information. This property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes