SIGN OF THE TIMES: A four unit block at 80 Charles St, Iluka is on the market for $1.1 million.
SIGN OF THE TIMES: A four unit block at 80 Charles St, Iluka is on the market for $1.1 million.

Iluka's million dollar buys

THE town of Iluka has just three properties currently listed for more than a million dollars, but LJ Hooker licensee Christina Nipperess thinks more are coming soon.

"We just sold a block of land for $770,000, and when you put a residential dwelling on it, I believe a price above $1million would be in line with buyer interest," she said.

"More and more are popping up."

Ms Nipperess said that many people who previously came from areas such as Byron or Lennox for holiday are now seriously looking at the town as a place to move.

"Those places are getting too overrun, and a lot of their old locals are seeing Iluka as more of the home they want to return to," she said.

"Our buyers have tended to come mostly from southeast Queensland, but now they're coming from further down the coast as well."

Ms Nipperess said the property market had been extremely busy in the area, and had only just settled recently in this winter period.

"Last winter it was just flat out, it did not stop," she said.

"Now, while I'm still showing quite a few buyers through, it has settled in this winter period.

"That could just be the end of the financial year, and I wouldn't be surprised if it picks up again shortly."

LJ Hooker has a set of units that top the magic number, listed at $1.1 million.

Comprised of four units at 80 Charles St with gross returns of $55,640, Ms Nipperess said they are an excellent prospect for return at the pricepoint.

"Two of the units are pretty much brand new and they're going to be maintenance free for years to come," she said.

"There is the option to strata title as well, so you can live there and enjoy all the best of Iluka and still have that income stream."

Iluka's other million dollar properties

3 Thompson Street, Iluka - $1.2m
3 Thompson Street, Iluka - $1.2m

3 Thompson St, Iluka: $1,200,000

LOCATED within a cul-de-sac the home is made up of 4 bedrooms, 2 bathrooms, study and studio.

Built in 2010, with the views over the river and the rainforest very much in mind, this beautifully presented two level home offers all the comforts of a modern beachside home.

A feature is the rooftop viewing deck to capture the views and sea breezes.

Agent: Real Estate of Distinction

40 Charles Street, Iluka - $1.15m
40 Charles Street, Iluka - $1.15m

40 Charles St, Iluka: $1,150,000

CURRENTLY 3 x Commercial shops, 3 x 1 bedroom units and 1 x 4 bedroom unit. Currently returning $54,000 per annum.

Plenty of room for more development on this 1011 sq m block with two road frontages. Options include live on property and enjoy income and Iluka lifestyle.

The B2 (business zoning) allows so much potential now or in the future.

Agent: Iluka Woombah Real Estate



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