Rainbow Bay… it’s a spot held very close to a lot of hearts. Maybe it’s the world famous surf breaks, but I have a feeling it’s the village environment that makes this peninsular so special.
Set directly opposite the main hub of Rainbow Bay is ‘Haven’, a set of flats filled with history & full of future potential. This income producing set of flats are an ideal addition to any portfolio for the astute investor.
* Five apartments on one title
* Upstairs: 2 x 2 bedroom apartments, both renovated & being holiday let
* Downstairs : 2 x 1 bedroom units + 1 x 2 bedroom unit
* Grounds: 2 x sheds, both with power (one with a kitchenette), 1 shed with shower, bathroom & laundry facilities
* Income: Upstairs Holiday Let – $35,459.00
* Income: Downstairs Permanently let, returning $47,840/year
* Weekly Income – Unit 1 : $340/week / Units 2 & 3 : $290/week
* TSC Zoning : Medium Density
* Developable area of 14m x 10m (complying with standard setbacks)
* 18-metre frontage
* 443sqm freehold land
* Great development options subject to Council consent.
* International Airport – 4km away
The appeal of the area is its access to so many opportunities. Snorkel in the Tweed River, enjoy multiple beaches and be walking distance quality restaurants and bars.
Water Rates: $2080.00 per year
Council Rates: $6421.20 per year