124 Mein Street, Scarborough QLD 4020

View the property showcase by clicking on the video link.

One of the best investment strategies with development potential that you will find this close to the water.

You could not ask for a better location surrounded by restaurants, cafes and walk to the beach.

Four flats in the one building on 1214m2 of Mixed Residential Zoning with an Unimproved Capital Value of $590,000.

There is currently a DA on this property and the adjoining land for 49 units over 8 storeys.

Invest in your future and secure a great development site that can return you approximately $50,000 plus in rent every year!

Flat One - 2 bedroom with 1 bathroom returning $260 per week.

Flat Two - 2 bedroom with 1 bathroom returning $230 per week.

Flat Three - 2 bedroom with 1 bathroom returning $210 per week.

Flat Four - 3 bedroom with 1 bathroom returning $250 per week.

Currently the property is offering returns that are a little on the lower side due to the current vendor being reluctant to increase rents so there is so much potential to extract a higher yield.

A property directly across the road with the same zoning has been recently developed and is nearing completion with 14 brand new units that are for sale between $350,000 - $525,000.

This incredible investment offers high annual rental return, high land value ($590,000), close proximity to the beach (just over 100m), around the corner to local cafes and local restaurants, walking distance to bus stop.


UCV $590,000
Approx $50,000 annual return
Current DA Approval
1214m2 Land
4 X Flats