29 Seaside Avenue
Mermaid Beach, QLD 4218

Overview

29 Seaside Avenue Mermaid Beach

This property offers a prime opportunity in a landmark beachside location approximately 250 meters from the sand and within walking distance to a variety of cafes, restaurants, shops, and public transport options. It is situated on a larger than average 455 square meter parcel with a 14.9 meter street frontage, zoned for Medium Density Residential use, making it an attractive prospect for builders, developers, and renovators.

Development plans have already been approved, with DA approval secured for three luxury three-bedroom apartments. The design includes two full-floor residences and a double-storey penthouse featuring a rooftop pool and expansive entertaining terrace. Additional features include basement parking and a second pool, creating a high-end development that complements the prestige of the surrounding area. Alternatively, there is potential to demolish the existing structure and build a bespoke beachside dream home in this coveted coastal setting.

Currently, the property comprises a solid brick block of three existing apartments providing immediate rental income. The configuration includes a renovated three-bedroom, two-bathroom apartment generating $850 per week, alongside two two-bedroom, one-bathroom units each yielding $600 per week, with one unit including a car space.

Key highlights of the property include:

- A blue-chip beachside opportunity with three units on one title offering lucrative potential.

- An oversized 455 square meter block with a 14.9 meter street frontage.

- A prized location just approximately 250 meters from the beach and within walking distance to cafes, shops, restaurants, and public transport.

- Zoned Medium Density Residential.

- DA approval for three luxury three-bedroom apartments: two full-floor residences plus a double-storey penthouse with rooftop pool and entertaining terrace.

- Development plans include basement parking and an additional pool.

- The option to demolish and rebuild a bespoke dream home in a sought-after coastal location.

- Existing solid brick building with three apartments providing rental income while plans are finalized.

- The apartments include one three-bedroom, two-bathroom, one-car space unit and two two-bedroom, one-bathroom units (one with a car space).

- The ground floor renovated three-bedroom apartment returns $850 per week in rent, while the other two units yield $600 per week each.

The location is highly desirable, offering a short stroll to the beach and surf, and close proximity to popular dining and entertainment options at Mermaid Beach and Nobby Beach. Nearby eateries include well-regarded establishments such as Etsu, Little Truffle, Juju, and Gemellini. The property is also near The Oxley, which provides gourmet groceries, authentic gelato, seafood, and international fashion. Public transport options are readily accessible, including the future G-Link light rail, and the property is approximately a five-minute drive from Pacific Fair shopping center, Star Casino, and the attractions of Broadbeach.

With existing rental income, approved development plans, and an unbeatable coastal position, this property represents a strategic acquisition with strong potential for future profit and growth.

Disclaimer: This property is being sold by auction or without a price guide, so a specific price cannot be provided. The information provided is believed to be accurate but is not guaranteed. Interested parties should conduct their own inspections and due diligence.

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