OFF MARKET

28 Majorca Crescent
Varsity Lakes QLD 4227

Bedrooms: 4
Bathrooms: 2
Car spaces: 2
Floor area: 157m2
Land area: 500m2
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Property Details for 28 Majorca Cres, Varsity Lakes

28 Majorca Cres, Varsity Lakes is a 4 bedroom, 2 bathroom House with 2 parking spaces and was built in 2002. The property has a land size of 500m2 and floor size of 157m2. While the property is not currently for sale or for rent, it was last sold in October 2021.

Building Type
House
Year Built
2002
Floor Size
157m2
Land Size
500m2
Local Government
Gold Coast City
Lot/Plan
141/SP149367

Last Listing description (March 2023)

Here is an opportunity for the builder, house flipper or very handy person to make some changes and improvements to this this great family sized home and profit from it. This is ideally positioned within walking distance to Varsity College, local shops & Lake Orr surrounds.

This property has been an investment home for 19 years and does require some much needed TLC. For those builders looking for project, this could be it.

Some of the key features:

- 4 Spacious bedrooms with built in robes
- 2 bathrooms
- Smart design with formal carpeted living area to the front of the home
- Open plan tiled living & dining area adjacent to the kitchen
- High ceilings throughout
- Kitchen complete with wall oven, ceramic cook-top, dishwasher, range hood and double fridge space
- Auto double lock-up garage with internal entry
- 2 x split system air conditioners
- Tinted windows
- Alfresco entertainment area under the main roof
- Flat fully fenced 500m2 yard with room for a pool

The property is currently tenanted on a periodic lease. Photos are from prior to tenancy

Rates: $2,000.00 / year approximately
Water: $1,600 / year approximately
Land: 500m2
Internal House: 244.7m2 External: 15.8m2
Current rent $590 / week on periodic lease
Rental Appraisal: $670-$700 per week

Property History for 28 Majorca Cres, Varsity Lakes, QLD 4227

A timeline of how this property has performed in the market
Last Sold
$851,000
19 Oct 2021
Listed for Rent
$590/w
05 May 2020
  • 19 Oct 2021
    Sold for $851,000
  • 12 Oct 2021
    Listed for Sale Offers above $749,000
  • 03 Sep 2019
    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 8,045 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 33 properties listed for sale, and 26 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.

Suburb Insights for Varsity Lakes 4227

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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.