707/38 Mahogany Drive, Pelican Waters QLD 4551

North-facing seventh floor | water and golf outlooks | resort complex with restaurant and pools | Pelican Waters skews retiree and downsizer This apartment occupies a genuinely scarce position within the Pelican Waters market: a high-floor, north-facing unit with dual water and golf course frontage in a complex that offers restaurant, heated lap pool, and tennis courts. For a buyer seeking lock-and-leave coastal living, the configuration removes the usual compromises — the master bedroom includes both an ensuite and a walk-in robe, and the chef’s kitchen with island bench supports entertaining without requiring a house. The property is best suited to downsizers or lifestyle buyers who value outlook and amenity over land; the 80 percent owner-occupier ratio in the building reinforces stable occupancy and building care. The primary risk is that the asking price sits well above the suburb median, which is justified only if the view, floor level, and building reputation hold their premium in a softer market. Body corporate fees for a complex of this scale are likely material and should be verified before any offer. On the opportunity side, the property’s north aspect and elevation are difficult to replicate in this suburb, and the marina precinct and beach proximity support ongoing demand from both owner-occupiers and holiday-home buyers. A buyer should test recent comparable sales in this specific building, not the broader suburb, to anchor negotiation.