Positioned just moments from the Esplanade in the highly sought-after seaside suburb of Point Vernon, this charming property offers an exceptional opportunity to secure a large coastal block with immediate income and future potential. Set on a generous 908m² block with side access, the property features a solid 135m2 2-bedroom brick home that has benefited from recent updates, creating a comfortable and low-maintenance residence close to the water. Inside, the home offers a light-filled open plan living and dining area with air-conditioning, a recently renovated kitchen and laundry, and two spacious bedrooms complete with built-in wardrobes. New window furnishings, updated lighting, and modern improvements add to the home's overall appeal. Adding further versatility is the renovated and air-conditioned 44m2 rear retreat, providing the perfect space for a studio, home office, guest accommodation, or additional living area. The property is currently tenanted until 25 May 2026 at $590 per week, making it an attractive option for investors seeking immediate rental income while securing a well-positioned coastal asset. The renewal rent appraisal guidance is $650-$680 per week. With Esplanade views, generous land size, and close proximity to the waterfront, properties in this location are tightly held and increasingly sought after. Property Highlights - Solid 2-bedroom brick home with built-in wardrobes - Renovated kitchen and laundry - Open plan lounge and dining with air-conditioning - New window furnishings throughout - Updated lighting and electrical improvements - Renovated and air-conditioned rear retreat/studio - Large 908m² block with side access - Steps from the Esplanade with water views - Currently leased until 25 May 2026 at $590 per week - Potential to increase rent at lease renewal to $650-$680 per week Whether you're looking for a coastal investment, land bank opportunity, or future lifestyle property, this is a rare chance to secure a prime position in Point Vernon. Contact Selling Agent Shane Bradbury from Active Agents today for further information. DISCLAIMER: All information provided has been compiled with care, but relies on third-party sources and is not guaranteed. Active Agents makes no warranty as to its accuracy or completeness. Property boundaries shown are indicative only-refer to official survey plans for precise details. Images are for illustrative purposes. Buyers are advised to conduct their own investigations and seek independent advice.
RealistIQ deal score
Good value signal
68
/100
Review the estimated value range, comparable sales, suburb trends, and market signals for 5 Banksia Street, Point Vernon before you inspect or make an offer.
Independent price check
Estimate vs market price guide
Market price guide is $169,000 below RealistIQ estimate
Use this as a second opinion and check the comparable sales below.
RealistIQ estimate range: $774,000 - $1,264,000Wider ranges mean more uncertainty.
RealistIQ estimate$1,019,000
Market price guide$850,000
$774,000$1,264,000
Before you inspect, check what similar properties actually sold for.
