SOLD
Sold on 10 Jul 2024 for $635,000

1108/3 Main Street
Varsity Lakes QLD 4227

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Land area: 94m2
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Property Details for 1108/3 Main St, Varsity Lakes

1108/3 Main St, Varsity Lakes is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2008. The property has a land size of 94m2. While the property is not currently for sale or for rent, it was last sold in July 2024. There are other 2 bedroom Unit sold in Varsity Lakes in the last 12 months.

Building Type
Unit
Year Built
2008
Land Size
94m2
Local Government
Gold Coast City
Lot/Plan
1108/SP199636

Last Listing description (March 2021)

That's correct! Take advantage of living in either the one bedroom or studio and either rent out one side or if you want separate living arrangements this apartment will work for you.

The two residences are on one title and both have completely separate front doors. The one bedroom is roomier and offers a full kitchen, bathroom and laundry. The adjacent studio apartment also offers you a kitchen and bathroom just in a more compact arrangement.

The parking situation is one for the one bedroom and is located undercover and secure. A lift takes you to your apartments, pool, gym and management located on the ground level.

Once inside, the sunny north east views are pleasant and both apartments have cosy balconies ideally suited to having a coffee or tea.

First Home Owners:
No restrictions on what you do, with either apartment, rent out or live in one or both. Your choice. Both apartments are fully furnished and in very good condition.

Investors:
Yes, this one will suit you. The combined rent for these two residences is $630 per week, that's over 15% higher rent than most fully furnished 2 bedrooms in Varsity Lakes and more inline with comparable 3 bedrooms in the suburb.

Weekly Income:
1 Bedroom $370.00
Studio $260.00
Total $630.00

Outgoings:
Levies? There's only one levy of $93 per week for both residences
Council Rates? 894.00 6 monthly for both residences
Water? $396 per quarter for both residences

Perfect Location:
Outdoor Pool and Gym onsite
Bond University (5 minute walk)
Varsity's Cafes (10 minute walk)
Robina Town Centre & Hospital (5 min drive)
Gold Coast Beaches 10 min drive to Burleigh or Miami
Perfect weather all year round

All offers will be considered prior. Auction JULY 30th.

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Property History for 1108/3 Main St, Varsity Lakes, QLD 4227

A timeline of how this property has performed in the market
Last Sold
$635,000
10 Jul 2024
Listed for Rent
$360/w
08 Jul 2019
  • 10 Jul 2024
    Sold for $635,000
  • 23 Jun 2020
    Listed for Sale AUCTION
  • 12 May 2016
    Listed for Rent - Price not available
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About Varsity Lakes 4227

The size of Varsity Lakes is approximately 5.9 square kilometres. It has 23 parks covering nearly 10.6% of total area. The population of Varsity Lakes in 2011 was 14,365 people. By 2016 the population was 15,000 showing a population growth of 4.4% in the area during that time. The predominant age group in Varsity Lakes is 20-29 years. Households in Varsity Lakes are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Varsity Lakes work in a professional occupation. In 2011, 51.9% of the homes in Varsity Lakes were owner-occupied compared with 51.3% in 2016.

Varsity Lakes has 8,044 properties. Over the last 5 years, Houses in Varsity Lakes have seen a 83.43% increase in median value, while Units have seen a 78.54% increase. As at 31 October 2024:

  • The median value for Houses in Varsity Lakes is $1,169,868 while the median value for Units is $779,938.
  • Houses have a median rent of $850 while Units have a median rent of $750.
There are currently 30 properties listed for sale, and 27 properties listed for rent in Varsity lakes on OnTheHouse. According to CoreLogic's data, 425 properties were sold in the past 12 months in Varsity lakes.

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