FOR SALE
$2,200,000

16-18 Ocean View Avenue
Merimbula NSW 2548

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 1598m2
Land area: 1598m2
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Buy Your Dream Lifestyle - Rare Business Opportunity For Sale

Albacore Apartments - Management Rights + 2x apartments
Merimbula has recently become a popular domestic holiday destination, supported with Qantas commencing direct flight routes from Sydney and Melbourne in 2022. Albacore Apartments is the premier apartment complex, located at the edge of town within walking distance to the CBD, retail and restaurants and directly across from Merimbula Lake. Balconies of all 1 bedroom and 2 bedroom apartments face East to capture the idyllic sunrise over the lake.
The complex of 21 Apartments, plus the Managers Residence, sets itself apart from it’s peers as it has a lift to service all five levels, low maintenance grounds with a solar heated pool and a secure underground carpark.
The opportunity to buy a Management Rights business with all apartments in the letting pool is rare. The business includes the purchase of a large, 2 bedroom + 2 bathroom Manager’s apartment with courtyard overlooking Merimbula Lake, & a 1 bedroom Studio apartment in the letting pool. There are 2 car spaces attached to the units. Net profit is $350,847 per annum.
Make the decision for that sea change you’ve always dreamed about, and buy yourself a flexible lifestyle and a strong business income to set yourself up for future retirement.
Inspections by appointment only.

Property Details for 16-18 Ocean View Ave, Merimbula

Building Type
Commercial
Floor Size
1598m2
Land Size
1598m2

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About Merimbula 2548

The size of Merimbula is approximately 18.3 square kilometres. It has 14 parks covering nearly 8.6% of total area. The population of Merimbula in 2011 was 3,277 people. By 2016 the population was 3,544 showing a population growth of 8.1% in the area during that time. The predominant age group in Merimbula is 60-69 years. Households in Merimbula are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Merimbula work in a professional occupation. In 2011, 57.8% of the homes in Merimbula were owner-occupied compared with 58.3% in 2016.

Merimbula has 3,593 properties. Over the last 5 years, Houses in Merimbula have seen a 59.02% increase in median value, while Units have seen a 64.31% increase. As at 30 September 2024:

  • The median value for Houses in Merimbula is $867,977 while the median value for Units is $514,621.
  • Houses have a median rent of $660 while Units have a median rent of $480.
There are currently 62 properties listed for sale, and 1 property listed for rent in Merimbula on OnTheHouse. According to CoreLogic's data, 131 properties were sold in the past 12 months in Merimbula.

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Chelsea Campbell
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