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GV Property Group proudly presents 36 Elliott Street, Isle of Capri, Surfers Paradise, Queensland, Australia for sale by negotiation.
Opportunity for buyer to: Refurbish, Lease Up 3 Vacant Apartments, Strata Title Entire Block and sell over time.
Property Description: A three-level building, comprising 16 one and two-bed apartments (ten 2-beds + six 1-beds) on a single title which can be strata sold down. Thirteen apartments are currently tenanted. Two apartments have recently undergone a full refurbishment. Further refurbishment works required.
Total accomodation includes 26 bedrooms and 23 bathrooms. The ground floor secure car park provides 20 car spaces (15 secure covered and 5 visitor spaces).
Access to the property is via Elliott Street to the north and the apartments overlook the Isle of Capri canal to the east, providing private jetty access and roof top amenities overlooking Surfers Paradise.
Net Saleable Area: 1,327.60 sqm (approx.)
GBA: 1,884 sqm (approx)
Zoning: Medium Density Residential
Year Built: 2015
Improvements: Landscaped rooftop recreation area including wet bar and barbeque facilities and private jetty from Canal to the rear.
Gross Income: c.$566,800 per annum (assuming fully tenanted) (approx.)
Current Passing Income: c.$441,220 per annum
Upside: Currently 3 vacant units, 2 of which have been fully refurbished
Opportunity for professional Body Corporate Managers to add 16 apartments to a portfolio.
Potential to strata sub-divide entire complex and sell down over time as exit strategy.
Waterfront location attracts tenants
Location: 36 Elliott Street has direct access to Bundall Road (a major connection road from West Burleigh to Southport) with an easement access providing vehicle and pedestrian access to Salerno Street which extends through the trendy heart of the Isle of Capri to shops, cafés, restaurants and amenity.
Purchasers are invited to contact the exclusive selling agents GV Property Group for further information or to schedule a private inspection.
Antonio Mercuri 0434 629 521
Marcus Neill 0452 405 782
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.
GV Property Group proudly presents 36 Elliott Street, Isle of Capri, Surfers Paradise, Queensland, Australia for sale by negotiation.
Opportunity for buyer to: Refurbish, Lease Up 3 Vacant Apartments, Strata Title Entire Block and sell over time.
Property Description: A three-level building, comprising 16 one and two-bed apartments (ten 2-beds + six 1-beds) on a single title which can be strata sold down. Thirteen apartments are currently tenanted. Two apartments have recently undergone a full refurbishment. Further refurbishment works required.
Total accomodation includes 26 bedrooms and 23 bathrooms. The ground floor secure car park provides 20 car spaces (15 secure covered and 5 visitor spaces).
Access to the property is via Elliott Street to the north and the apartments overlook the Isle of Capri canal to the east, providing private jetty access and roof top amenities overlooking Surfers Paradise.
Net Saleable Area: 1,327.60 sqm (approx.)
GBA: 1,884 sqm (approx)
Zoning: Medium Density Residential
Year Built: 2015
Improvements: Landscaped rooftop recreation area including wet bar and barbeque facilities and private jetty from Canal to the rear.
Gross Income: c.$566,800 per annum (assuming fully tenanted) (approx.)
Current Passing Income: c.$441,220 per annum
Upside: Currently 3 vacant units, 2 of which have been fully refurbished
Opportunity for professional Body Corporate Managers to add 16 apartments to a portfolio.
Potential to strata sub-divide entire complex and sell down over time as exit strategy.
Waterfront location attracts tenants
Location: 36 Elliott Street has direct access to Bundall Road (a major connection road from West Burleigh to Southport) with an easement access providing vehicle and pedestrian access to Salerno Street which extends through the trendy heart of the Isle of Capri to shops, cafés, restaurants and amenity.
Purchasers are invited to contact the exclusive selling agents GV Property Group for further information or to schedule a private inspection.
Antonio Mercuri 0434 629 521
Marcus Neill 0452 405 782
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.
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