39 Frank Street, Labrador

A high quality residential investment opportunity, situated within the northern Gold Coast locality of Labrador.

The sale comprises a modern mulit-level apartment complex erected on a 1,102m2 “High Density Residential” zoned allotment.

The complex was constructed in 2012 and comprises a total of 18 apartments, spread over a 3 storey building, with at grade parking, with each level serviced by a passenger lift.

The 18 apartments consist of 15 x 1 bed & 3 x 2 bed apartments, with some achieving Hinterland or Broadwater views.

At the date of marketing all 18 apartments were occupied with the property having a gross passing income of $401,185 per annum. More specifically the 15 x 1 bedroom units are NRAS certified whilst the 3 x 2 bedroom apartments are rented on the open market.

Labrador is an established residential locality, situated at the northern end of the Gold Coast, being located within close proximity to the Southport business district and Surfers Paradise.

The property was offered to market via a six (6) week marketing campaign, which generated a total of 62 enquries.

The property was sold under the hammer, to a private group for a purchase price of $4,550,000 Ex GST.