1960s knockdown in Miami available for rent at $2000 a week as vacancies hit record low
The best feature of this ageing Gold Coast shack is only apparent when you turn your back to walk away from it. Here’s why the landlord is asking $2000 a week. WOULD YOU PAY IT?
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WOULD you pay $2000 a week to live here?
For this ageing Gold Coast rental shack, the real estate saying that `location is everything’ has never been truer.
Marketed in January as a knockdown and sold before auction for $3.9 million, the new owners of this character-filled four-bedder at Miami are putting their investment straight to work.
Features of the 1960s-era house include two bathrooms and a single car garage, but the home’s best feature becomes apparent when you stand in front of the 405 sqm property and turn your back on it.
Directly across the quiet esplanade road from 35 Nagel Ave is sparkling Miami Beach.
Despite the four-figure rental price, the property is unlikely to stay vacant for long, as rental vacancies reach a record low of 0.6 per cent.
The shortage of rentals has been at least partially attributed to Sydney and Victorian residents moving north in the coronavirus pandemic.
Property records show the Miami home was bought by a company owned by Surjit Singh and wife Czarina in a sale that settled on December 24.
It was believed to be a record price for a knockdown along the tightly held beachfront strip and was almost $300,000 more than the $3.595 million it was listed for in October.
Previous owner Trisha Tatham sold well at $3.9 million, having paid $3.5 million for the property just four months earlier.
At the time of the sale, marketing agent Jordan Williams, of JW Prestige, said inquiries had run hot as soon as the property was listed.
“I fielded more than 100 emails over the Christmas break alone,” he said.
Mr Williams said family had been wanting to get on to the Miami beachfront for some time.
“The guy wasn’t mucking around,” Mr Williams said.
“His family had been looking for a couple of years, so when he saw this come up for auction he contacted me straight away.
“This was the only absolute beachfront block to remain, so that’s it now, it’s all gone.”
The two-storey, four-bedroom property was the first house to go up along the coveted strip in Miami, originally built by the family of a former Wallabies captain, and it is the last to remain untouched – for now.
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