Stradbroke Island, Queensland: The idyllic beachfront spot where you can buy an apartment for just $50,000

Waterfront apartments in one of Queensland’s most popular holiday destinations are for sale for just $50,000.

The apartments are in the idyllic resort of Couran Cove, on South Stradbroke Island.

However, there is a catch. A dispute with the resort’s corporation led to its closure in June, meaning the apartments have no power, water, gas or sewerage.

There is also no guarantee when or if the services will be activated again.

But if you’re prepared to rough it, at least in the short term, the location could be one of the best property bargains around.

The sudden closure of the beach resort community has seen many frustrated owners eager to sell their vacation homes.

Critton Astras of Astras and Bond Estate Agents said it is rare to find fully furnished waterfront properties for ‘such a low price’.

“From studios, one bedroom, two bedroom, three bedroom lodges, some great eco cabins out in the woods and you have cottages,” he said. 9 News.

“Anything from $50,000 to $300,000.”

While buying condos is a risky investment, some current owners said the island community makes up for the missing amenities.

“My wife and I came here a few years ago when it was kind of open, we’ve always loved the place and it’s definitely a good time to buy now,” said one owner.

Couran Cove was developed by American billionaire philanthropist Chuck Feeney in the 1990s and won several Queensland tourism awards in its heyday.

However, the bitter dispute with the body corporate saw the resort almost completely shut down four months ago – except for about 40 residents.

of Courier mail reported that a “Marina Closed” sign was posted at the rope resort’s harbor entrance until June 9.

Several other parts of the resort, including the pool area and water promenade, were also cordoned off and locked.