29 Seaside Avenue
Mermaid Beach 4218

Looking to capitalise on a landmark location and reap the lucrative rewards? Situated approx. 250m* from the sand and footsteps from cafés, restaurants, shops and public transport, this is a blue-chip beachside holding with significant potential. Spanning a larger than average 455m²* parcel with a 15m* street frontage, and zoned Medium Density Residential, it presents a compelling proposition for builders, developers and astute renovators.

Enticingly, plans are already in motion, with DA approval secured for three luxury 3-bedroom apartments. Two full-floor residences will accompany a double-storey penthouse with rooftop pool and expansive entertaining terrace. The design also incorporates basement parking and an additional pool, creating a high-end product tailored to the prestige of its surroundings. Alternatively, explore your options to knock down and rebuild a bespoke beachside dream home in a coveted coastal setting.

In the interim, a solid brick block of three existing apartments provides immediate income. The configuration includes a renovated 3-bedroom, 2-bathroom apartment returning $850 per week, plus two 2-bedroom, 1-bathroom units each yielding $600 per week (one with a car space).

The Highlights:

- Blue-chip beachside opportunity boasting lucrative potential; three units on one title

- Oversized 455m2* block with 15m* street frontage

- Prized location, a mere 250m* (approx.) to the beach and walking distance to cafes, shops, restaurants and public transport

- Zoned Medium Density Residential

- DA approval for 3 x 3-bed luxury apartments: two full floor residences plus a double storey penthouse with rooftop pool and entertaining terrace

- Development will also include basement level parking and a pool

- Scope to also knock down and rebuild a dream home in a sought-after location

- Existing solid brick building with three apartments - earn rental income while finalising plans

- 1 x 3-bed, 2-bath, 1-car apartment and 2 x 2-bed, 1-bath apartments (Unit 1 with 1 car space)

- Ground floor renovated 3-bedder returns $850 per week in rent; units 1 and 2 yield $600 per week

A location to love, not only are you a short stroll from the sand and surf, it’s within walking distance of popular restaurants, bars and cafes at both Mermaid Beach and Nobby Beach.

Foodie favourites such as Etsu, Little Truffle, Juju, Gemellini, and more are all close, and you’ll love the proximity to The Oxley, which offers everything from gourmet groceries to authentic gelato, seafood feasts and international couture. Additionally, benefit from easy access to public transport options (including the future G-Link light rail) and being only approx. 5 minutes drive from Pacific Fair, Star Casino and all the delights of Broadbeach.

With holding income, approved plans and an unbeatable coastal position, this is a strategic acquisition primed for profit. Set yourself up for a bright financial future. Contact Eoghan Murphy 0421 197 720 or Gypsea Youngsmith on 0424 544 485 today.

Disclaimer: This property is being sold by auction or without a price and therefore a price guide can not be provided. The website may have filtered the property into a price bracket for website functionality purposes.

Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise.