DJ Stringer Property Services is proud to market this landmark property for sale .
Located adjacent to the pinnacle of Point Danger at Rainbow Bay this north facing income producing property is a must for the astute property buyer seeking a personal abode for the ideal beach – house, sound investment income stream and or re-development opportunities.
The residential component comprises of 3 units all on one title (note a new switchboard and separate meters have been installed).
- Ground level facilitates 2 units (1 x 1 bedroom & 1 x 2 bedroom) – leased at $240 pwk & $270 pwk respectively
- 1st level – facilitates 1 large 4br unit that occupies the entire top level – leased at $275 pwk (underlet)
Current market rental is determined at $260, $285 & $365 pwk = $910 pwk / $47,320 pa gross.
Construction – Brick Veneer (partial) with Colourbond roof
Property Location:
Rainbow Bay is unarguably one of the most picturesque destinations on the entire Australian Coastline. Boasting the best surf & recreational beaches (within few hundred metres) and a relaxed lifestyle that purifies ones existence, this is one opportunity not to be missed.
The subject property is just over the Queensland side of the Tweed – NSW state borderline & therefore offers all of the conveniences of major shopping & a smorgasbord of water activities that are literally within minutes.
Proudly positioned on the corner of Petrie st and Eden Ave this elevated north facing property commands some terrific ocean views and soothing cool breezes.
Land:
455m2 (corner allotment) with a super 30m frontage X 15m width
Zoning:
RD 7 = 1br per 25m of land (455m2 / 25m) = maximum density of 18 bedrooms. Although the height for the region is capped at 10 levels, coverage is a maximum of 40% (ie. 182m2 per level) coupled with parking provisions, development (especially those over 4 levels) should be carefully considered. Make no mistake new boutique developments in Rainbow Bay are in hot demand!
Annual Rates: $7620 pa
Pest and Building Reports available on request.