20 Philip Avenue is an exceptional opportunity to buy all four apartments in one line with potential to further increase on the current investment via renovation, or to realise the full value of the site via development, possibly a boutique luxury residential tower capitalising on the prime location.
Sitting directly adjacent to the Oracle (hotel, retail and commercial precinct), and within walking distance to:
-The Oasis Shopping Centre;
-Surf Parade (retail precinct);
-Kurrawa Surf Club;
-Broadbeach State School.
Key Attributes:
-Total land area of 516m2;
-Currently improved with block of 4 units, being sold in one line;
-Provides a holding income;
-Zone: High Density Residential;
-Density: RD8 (1 bedroom per 13m2);
-Height: Unlimited.
If you were less adventurous, or perhaps a long-term player, the land banking option could be an option as land parcels with unimpeded views such as these rarely present, especially in such central locations, or possibly add onto the site and increase your footprint with a second acquisition.
Zoning:
High-Density Residential
HX unlimited height
RD8 1 bedroom per 13m2
Current Asset:
Ground Floor: Renovated 3 Bedroom With 2 Bathroom
Level 1: 1x Original 2 Bedroom 1 Bathroom & 1x Fully Renovated 2 Bedroom 1 Bathroom With Large Terrace
Rental Appraisal
Ground: $550p/w (Unit 1) and $470/w ( Unit 2)
Level 1: $520p/w (Unit 3) and $700p/w (Unit 4)
Current $110,000 Per Annum
Potential Gross Income:
$130,000k Per Annum
Broadbeach is located right in the heart of the Gold Coast coastline, 3 kilometres south of Surfers Paradise.
People move to Broadbeach as it offers a lifestyle on your doorstep. Centrally located between Star Casino and Pacific Fair Shopping Centre and very close to the new Convention Centre, it is just a 2 minute walk to the beachfront playground. You can stroll to Oasis Shopping Centre, catch the scenic light rail, visit Star Casino or one of the many licensed clubs and bars or stop for a delicious meal at a trendy sidewalk cafe in the Broadbeach Mall.
Broadbeach lets you enjoy all the excitement of the Gold Coast with the theme parks on the Gold Coast corridor only 30 minutes drive north and a choice of 13 international golf courses and additional public courses in the vicinity.
Property ID: #L22073702
