Auction Location: On-Site **This property is being sold on or before auction and therefore a price guide cannot be provided. ** Discover an exceptional investment opportunity at 89 Petrel Ave, Mermaid Beach. This well-maintained block is comprised of three units, perfectly positioned in one of Mermaid Beach's most sought-after locations. Key investment advantages include the potential for future re-development, leveraging the property's 405sqm land parcel with a 12.4m frontage and 31.8m depth. This offers a rare opportunity to capitalise on prime coastal real estate. Ideal for discerning investors seeking immediate rental income and promising capital growth opportunities, this versatile property provides multiple income streams and future development possibilities. The residence boasts a tranquil coastal ambiance and a lively community atmosphere. Residents benefit from seamless access to local amenities such as cafes, restaurants, and boutique shops, ensuring a lifestyle of convenience and relaxation. Property Features Include: - Three modern units: two ground-floor units with two bedrooms and one bathroom each, and a first-floor unit featuring three bedrooms and two bathrooms - Renovated in 2015, enhancing their appeal with contemporary aesthetics and functional design - Collectively generating a total rental income of $2,230 per week, currently under- rented (Unit 1 - $650pw, Unit 2 - $600pw/$680 as of July 2024, Unit 3 - $900pw) - 3 Individually titled units - Be your own body corporate (building insurance payable annually) - Tenants pay for all water usage - New air conditioning in all units This property is being sold by auction or without a price and therefore a price guide cannot be provided. The website may have filtered the property into a price bracket for website functionality purposes. 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.