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Overview
Situated only 250 meters from the pristine Palm Beach shoreline, this property offers a distinctive multi-residence setup on a 508 square meter medium-density zoned block. Its structure comprises three independent residences spread over two levels, uniquely blending immediate rental income potential, versatile living arrangements, and promising future growth opportunities.
The upper floor houses a spacious single residence featuring three generously sized bedrooms alongside a study and a bathroom. This level maintains original architectural elements, inviting natural light to fill the space and encouraging personalization and enhancement over time.
On the lower level, two separate two-bedroom apartments currently rented to long-term tenants provide a steady combined rental income of $1,235 per week, with leases secured until early 2027. The robust brick and tile construction combined with a concrete slab separating the floors offers excellent insulation and soundproofing, thereby ensuring privacy and comfort between the residences.
Beyond its immediate practicality, the property's medium-density zoning introduces potential avenues for redevelopment, subject to council approvals, making it a savvy acquisition for investors or those seeking long-term coastal real estate options.
Convenience is paramount with the property’s prime location close to key amenities. Within easy walking distance are the beach, parks such as Pirate Park and Laguna Avenue Park, Palm Beach-Currumbin State High School, local shopping and dining precincts, and transport links facilitating access to both the Gold Coast Airport and broader metropolitan areas.
Ideal for investors seeking multiple income streams, families requiring flexible accommodation, or purchasers interested in a coastal property with redevelopment prospects, this offering at 15 Molucca Avenue delivers a compelling blend of lifestyle and investment attributes.
Local Market Insights
In Palm Beach, Quiet Listings observed 44 new houses entering the market over the last 30 days, up from 36 during the previous 30-day period, with an average advertised asking price of $1,865,045. The property type mix of listed properties is predominantly Houses at 50%, followed by apartments (21%), and units (10%). The most active agency for houses in the Palm Beach area is currently Ray White, representing 25% of new listings, followed by LJ Hooker with 18%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Market Insights for Palm Beach QLD 4221
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