Buy One or Buy Both - Your Choice
Take a walk around Mooloolaba and you will see lovely modern homes and apartments in close proximity to the beach. Less than ten years ago, these were quaint beach bungalows snapped up by savvy investors and re-developed and they have now seen their investment grow substantially. These opportunities are now few and far between.
However, like a journey back in time, 19 & 21 Marjorie Street provides a similar opportunity for today’s smart property buyer.
Located just 450 metres from Mooloolaba Beach you have a rare opportunity to develop your dream home in one of the best locations on the coast. Both blocks are gently sloping, 506 m² in size and with original 3 bedroom 1970’s beach bungalows.
Everything you need, including schools, public transport, shopping and leisure are quickly and easily accessed from the location.
The medium density zoning means you have options. Because both properties are self-assessable for duplexes to a maximum height of 12 metres, this is a great opportunity for someone with development aspirations.
If you have a self-managed super fund, it would be hard to see a better opportunity than this to establish or build on your existing portfolio, and still adhere to the sole purpose test requirements.
If you simply want to build your forever home, and to be able to stroll down to the beach whenever you want, buy one and benefit from the rental return while you work out your design. Whichever option you choose, with a build height of 12 metres, you have plenty of scope to maximise the views to the coast.
With new semi-detached duplexes on smaller allotments in Marjorie Street and surrounds selling for between $1.15 million and $1.25 million, you don’t need to be Nostradamus to see the potential.
• Two separate lots of 506 m² each
• Short walk to Mooloolaba Beach
• 2 x 3 Bedroom homes with total income potential of $800 plus per week
• Medium Density zoning allows up to two dwellings on each block
• Build Height 12 metres by right
The owner is seeking offers over $700,000 for each block and this represents great value for the smart investor with an eye to the future. There are numerous purchase options available to genuine buyers who wish to secure the properties, while they scope out development and design ideas.
Remember to mention you found this property on DevelopmentReady
