Unique opportunity to acquire a prime piece of Rainbow Bay real estate, within 200m to the beach, equipped with a vintage block of (5) income producing flats returning $87,620 gross per annum.
- 5 x 2 bedroom units (3 ground floor & 2 upper level) on one title
- Easy care flooring, ceiling fans & robes
- Separate laundry's
- Car accommodation
Land Size - 481m2
Description - Lot 12 RP 173867
Zoning - High density residential
Gross Rental Income - $87,620 per annum
Rates - $2,786 per half year *
Water Rates - $822 per quarter year *
This strategic holding is a mere 123 footsteps to the Tweed Coolangatta / Greenmount Surf Club, which is at the end of the street and then you are straight on to the sand.
You will also enjoy strolling around to Rainbow's village offering a handful of cool cafe's and local stores & major shopping can be explored at Coolangatta's CBD and the Tweed Mall within a short walk.
Surfers & bathers will be in their element with world class breaks such as Snapper Rocks, Greenmount & Rainbow bay so close you can smell the salt air.
A wonderful opportunity to snare this income producing property with upside to enhance or develop later if one so desired.
With an abundance of development progressing in this tightly held pocket, this is one property that will draw plenty of interest & likely to sell fast.
All information contained herein is gathered from sources we believe to be reliable. DJ Stringer Property Services Pty Ltd and its staff will not be held responsible for any act or omission arising from the accuracy of such material. We cannot guarantee its accuracy and interested persons should rely on their own enquiries. Such enquires should include, but in no way limited & directed, to your legal representative, any local authorities, the Contract of Sale and in the event of a Unit, Strata Title or Community Title, refer to the Body Corporate, Community Management Statement & Disclosure Statement for any information on the property, Common Property & Exclusive use areas, that may directly or indirectly affect this property.