301-302/38 Mahogany Drive, Pelican WatersQLD 4551

Listing data updated 20 June 2026

Inspection By Appointment On offer in the highly sought-after Pelican Waters Resort is this beautifully presented dual-key property. Specifically structured for the lifestyle investor, this resort-zoned property offers the ideal balance of personal use and passive income. Under the resort zoning, owners can enjoy up to 3 months of personal holiday residency per year, leaving the remaining months to capitalize on the resort's high-demand short-term letting pool. The dual-key configuration consists of two independent, side-by-side units on a single title. The first is a fully self-contained one-bedroom apartment featuring a kitchen, open living area, and a master suite with an ensuite and spa. The second is a spacious studio suite complete with twin queenbeds, its own ensuite, sitting area, and refreshment station. Both spaces feature large windows and generous private balconies designed to take full advantage of the views over the Pelican Waters golf course and surrounding native bushland. Located less than 15 minutes' drive from a choice of local beaches, shops, and taverns, the resort offers premium, hands-off property management. On-site facilities are extensive, including a hair salon, nail spa, florist, fully equipped gymnasium, and an integrated restaurant and bar. The grounds feature a large resort pool and a heated lap pool, both positioned to overlook the golf course, waterways, and manicured tropical gardens. • Flexible Investment Structure: Zoned for short-term accommodation with up to 3 months of personal owner usage annually-perfect for a private holiday getaway. • Turn-Key Presentation: Both apartments are recently refurbished and come fully furnished with quality fixtures and fittings. • Outdoor Living: Large, private balconies capturing expansive golf course and bushland views. • Climate Control: Fully ducted air-conditioning throughout both units. • Security & Parking: Secure undercover accommodation for two vehicles with security-activated lift access. • Entertaining Areas: Well-maintained BBQ and outdoor entertaining spaces for residents and guests. • Resort Pools: Access to both the main resort pool and a dedicated heated lap pool. • Recreation: All-weather, floodlit tennis courts located on-site. • Currently managed by Pelican Waters Resort Management: offering a hands-off fully managed service. • Prime Location: Walking distance to the prestigious Pelican Waters Golf Course and restaurant. An absolute must to inspect!