10/15 Dutton Street, Coolangatta QLD 4225

tenanted below market | building age risk premium | strata cost high for size | limited value-gain headroom near cycle peak This property carries a specific risk mechanism in its below-market lease at $895 per week until December 2026, costing an owner-occupier around $1,100 per month in lost opportunity cost versus vacant possession marketing. The alternative use case is holding for rental yield at roughly 4% gross, which is below the Coolangatta premium apartment average of 4.5%, meaning you are paying for future capital growth that already priced in. The plain judgment call is to negotiate hard on price given the current listed range of $1.18 million sits near the suburb’s 2026 cycle peak, and hold for medium-term rental upside only if you secure it below $1.15 million. What is competitively strong is the 2021 build quality and boutique complex size, which limits future special levies compared to older high-rises. The rare combination of rooftop spa and yoga lawn, plus 83m² internal floor area for a two-bedroom, places this above the typical 75m² unit in the precinct, giving a better owner-occupier resale profile. It serves best an investor seeking a stable tenanted holding with some depreciation benefits, or a buyer who can wait three years for the lease expiry. The comparable sales data from recent months shows two-bedroom apartments in Swell complex transacting between $1.12 million and $1.20 million, with $1.18 million as the current asking midpoint. This suggests limited immediate value, but the 120m² land size holds longer-term scarcity if you can absorb the holding period. Your next step should be a capital growth projection over five years with a worst-case 3% annual appreciation scenario to test whether the tenanted discount offsets the rental loss.