62 Pacific Street, Corindi Beach NSW 2456
62 Pacific Street, Corindi Beach NSW 2456
Multi-unit holding | 1,012m² residential land | 500m to beach | No overlay risks
The property presents as a rare configuration within Corindi Beach—a seven-bedroom, six-bathroom building on a full residential block of over 1,000 square metres, with building coverage at just 30 percent. This low coverage implies significant redevelopment or subdivision optionality under current zoning, while the existing multi-unit structure already generates rental income. The location within 500 metres of the beach and within established school catchments strengthens its appeal for both owner-occupiers seeking space and investors targeting yield or future land value uplift. The absence of bushfire, flood, or heritage overlays removes common coastal constraints, simplifying development pathways.
The primary risk lies in the property’s current multi-unit status, which may require council approval or strata adjustments to unlock full redevelopment potential, and the estimated rental income of $470 per week appears modest relative to the asking price, suggesting a value-add or land-bank thesis rather than immediate cash-flow return. The opportunity is in the land-to-building ratio and the ability to hold the existing income stream while pursuing longer-term subdivision or a single high-value dwelling. This property suits a buyer with patient capital and a clear intention to leverage the underutilised site.
Detailed Independent Property Report prepared by PropCred Analyst team for 62 Pacific Street, Corindi Beach NSW 2456
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
2
Execution Risk
1
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Market Insight
Corindi Beach is a coastal suburb positioned as an accessible family and retiree market, offering a relaxed lifestyle. Demand is driven by these demographics seeking affordability and a coastal setting, supported by a clear preference for houses over units. Recent price trends show strong annual growth, with a market characterised by consistent sales and a relatively brisk selling period. Future growth is underpinned by its established appeal and historical performance, though the limited stock on market suggests potential supply constraints.
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PropCred Estimated Value
Bedrooms
1
Bathroom
1
Parking
1
Land
1012m²
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