INVESTOR ALERT – RARE BEACHFRONT OPPORTUNITY!
Property Shop Northern Beaches is thrilled to bring to the sales market, this once in a lifetime opportunity to purchase the one-time “Beachfront Hideaway”. This former motel, located on absolute beachfront at Holloways Beach, sits majestically on an impressive 900 square metres. The current owner has completed extensive renovating, to include plumbing and electrical works and internal and external painting of the building within the last 12 months.
LOCATION – Holloways Beach is situated on the northern beaches of Cairns. With a vibrant mix of houses and apartments, and a sprinkling of shops and cafes, it possesses a relaxed, laidback charm. Its locale cannot be beaten – a beach suburb coupled with its close proximity to the airport, Cairns CBD and the proposed Aquis Great Barrier Reef Resort and Casino.
LIVING – Comprised of 5 living quarters: two x 2 bedroom and three x 1 bedroom units. All are on single title, so no body corporate fees. All residences feature courtyards, with the rear unit possessing its own, spacious wooden deck. The property also boasts an in ground pool, courtyard style garden, undercover parking for 5 vehicles and a communal lounge. Direct access by walkway onto the beach.
OPTIONS – All of the apartments are tenanted, with all tenants on leases of 6 months or longer. There is the potential to extend the number of units. The land could also be sub-divided into two lots with two beach front homes. Or, for the owner occupier, the opportunity to convert the current living situation into one dwelling, complete with pool and adequate car parking at this desirable beach front location.
INVESTMENT RETURNS – All of the properties are currently managed by the Property Shop property management team. This can easily be transferred to the new owner. Unit 1 is tenanted at $250 per week, Unit 2 is tenanted at $250 per week, Unit 3 is tenanted at $265 per week, Unit 4 is currently undergoing a complete bathroom renovation and will be re-tenanted at $375 per week and Unit 5 is tenanted at $425 per week. Giving combined rental returns of $ 1565 per week.
For further information on this amazing investment opportunity, please call either Julie Johnston or Ben Johnston to discuss further.