1, 2, 3/89 Petrel Avenue, Mermaid Beach, QLD 4218

1, 2, 3/89 Petrel Avenue, Mermaid Beach, QLD 4218 HUGE RETURN - INCOME OF $118,000 PER ANNUM

Discover an exceptional investment opportunity in this well-maintained block

comprising of three units, perfectly positioned in one of Mermaid Beach's most

sought-after locations.

Key investment advantages include the potential for future re-development, leveraging

the property's 405sqm land parcel with a 12.4m frontage and 31.8m depth. This offers

a rare opportunity to capitalise on prime coastal real estate.

Ideal for discerning investors seeking immediate rental income and promising capital

growth opportunities, this versatile property provides multiple income streams and

future development possibilities.

The residence boasts a tranquil coastal ambiance and a lively community atmosphere.

Residents benefit from seamless access to local amenities such as cafes, restaurants

and boutique shops, ensuring a lifestyle of convenience and relaxation.

Property Features

* Three modern units 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

* These units collectively generate a total rental income of $2,280 per week

* Air conditioning was recently replaced with new units

* Individually titled, tenants pay for all water usage

* Town Planning - RD5

* 6.2.2 Medium density residential zone code

* Zoned: RD5 (1 brm per 50 m2*)

* Building Height: 3 (15 metres*)

Location Advantage

One of the most sought after suburbs on the Gold Coast, Mermaid Beach is well known

for it's 'Millionaire's Row'. With an average house price over the past 6 months of $3.25

million, it is proving to be one of the most expensive suburbs in South East Queensland.

It is well-connected, offering various transportation options, including the Gold Coast

Highway, buses, and the G:Link tramline (under construction), making it convenient to

access surrounding areas and the rest of the coast.

However, it's the lifestyle that is one of the biggest drawcards to the neighbourhood.

Mermaid Beach has retained its laid-back atmosphere with a number of cafes and

restaurants dotted throughout.

Added to this are the easy access to the busy Broadbeach and Surfers Paradise

entertainment and shopping districts, Pacific Fair, The Star at Broadbeach and the

Exhibition Centre which means residents are never at a loss for entertainment.

Call now as this property will be sold!

Co Agent : Lachlan Harris 0409057733

[email protected]

Disclaimer:

Disclaimer:

In preparing this information we have used our best endeavours to ensure the information contained herein is true and accurate, but we accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.