9/57-59 Park Beach Road
Coffs Harbour, NSW 2450

Overview

9/57-59 Park Beach Road Coffs Harbour NSW 2450

Positioned in an ultra-convenient location just a five-minute walk to Park Beach Plaza, close to public transport, and only a fifteen-minute stroll to the beach, this neat and tidy renovated two-bedroom, one and a half bathroom apartment presents an excellent opportunity for investors seeking an established, low-maintenance asset with immediate income.

Approximately $60,000 in capital improvements have been completed in the past three years, including a renovated kitchen and updated paint, flooring, and lighting throughout the apartment. A new hot water system has been installed, complemented by a separate laundry with an additional toilet located off the carport.

The property benefits from a long-term and exceptional Community Housing tenant in place, currently paying $546.50 per week on a month-to-month lease, with annual rent increases permitted each July. This provides a reliable income stream and makes the property an attractive set-and-forget investment with built-in future growth potential.

The complex itself has undergone significant improvements, including the installation of CCTV, replacement of all common lighting, new gutters, and a full external repaint completed in 2023. With an approximately fifty-fifty mix of owner-occupiers and tenants, the complex offers a balanced and well-maintained environment.

Additional features include walking distance to Park Beach Plaza Shopping Centre, transport, and the beach, making it a highly desirable location.

Council rates are approximately $2,629 per annum, and strata fees are approximately $2,404 per annum. The land size is approximately 126 square meters, and the property is zoned R1.

This apartment represents a smart investment in Park Beach with strong returns and quality upgrades, ideal for investors looking for a low-maintenance property with immediate income and future growth potential.

Location