ResidentialPropertyInvestorsClub.com

Beach side of the Gold Coast Highway 1970′s built unit blocks are in plentiful supply in some of the more sought after areas such as Broadbeach, Surfers Paradise and Main Beach. These well built, but often tired looking buildings have a lot more going for them than just being an affordable option to live walking distance to the beach. Quick profits can be made by buying one unit or a whole block, when undertaking a cost effective cosmetic renovation and then either renting or on selling the finished product. Unrenovated two bedroom properties in the these suburbs are currently selling in the low $300k’s, and the right sort of renovation you can add up to $5 value for every dollar spent.

Body corporate fees are much lower than modern high rise apartments, often below $20 per week whereas with modern high rise apartments you can pay many $100′s per week. Land value is huge in these underdeveloped blocks, on some beach side 600 square meter blocks you will find only 4 or 5 units, but the land may be zoned for between 7 and 30 stories.  This is where I see huge future profits, in the development potential. After all, beach side land is in finite supply, and Aussies will always gravitate towards the surf and sand.