1202/38 Mahogany Drive, Pelican Waters, QLD 4551 | Property Value & History | OnTheHouse
FOR SALE

1202/38 Mahogany Drive
Pelican Waters QLD 4551

Bedrooms: 3
Bathrooms: 3
Car spaces: 2
Floor area: 214m2
Land area: 288m2
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Property Details for 1202/38 Mahogany Dr, Pelican Waters

1202/38 Mahogany Dr, Pelican Waters is a 3 bedroom, 3 bathroom Unit with 2 parking spaces and was built in 2005. The property has a land size of 288m2 and floor size of 214m2.This Property is currently listed for sale with Walters Real Estate

Building Type
Unit
Year Built
2005
Floor Size
214m2
Land Size
288m2
Local Government
Sunshine Coast Regional
Lot/Plan
1202/SP168156

Last Listing description (August 2026)

Returning to the market for the first time in more than a decade, this exceptional developer's penthouse presents a rare opportunity to secure a residence where thoughtful design, spectacular views and an incredible lifestyle come together.

From the moment you step inside, there is an immediate sense of space, quality and privacy. Positioned to capture sweeping views across the golf course and towards the Caloundra coastline, the apartment is filled with natural light and designed to make the most of its elevated position.

At the heart of the home, the kitchen is both beautiful and practical, positioned to connect effortlessly with the dining and living spaces while taking in the views beyond. Natural finishes, stone benchtops, quality appliances and a plumbed-in refrigerator with water purifier; create a kitchen that is as enjoyable to use as it is to entertain from.

The open-plan living and dining area provides plenty of room to spread out, while the clever separation between each space allows the home to feel connected without compromising on comfort. Whether enjoying a quiet morning coffee, preparing dinner or entertaining family and friends, the outlook is always part of the experience.

The master suite is generous in scale, with a large walk-in wardrobe and beautifully appointed ensuite featuring dual basins. The second bedroom is impressive, complete with a large built-in wardrobe and expansive views; while the third bedroom enjoys its own ensuite - ideal for guests, grandparents or teenagers seeking their own space.

Throughout the apartment, quality stone finishes and flooring add a considered, luxurious feel, while the large practical laundry and adjoining storage room provide the everyday functionality often missing from apartment living.

Step outside and the sense of space continues. The large, private wrap-around verandah provides multiple areas to sit, dine and unwind, with views that stretch across the golf course and towards the ocean. It is a place to slow down, enjoy the breeze and make the most of the Sunshine Coast lifestyle.

And then there is the rooftop.

Private and completely your own, the rooftop terrace takes this penthouse to another level. Currently designed with a putting green, spa, sauna and outdoor BBQ kitchen, there is an abundance of space to entertain or simply enjoy your own retreat above it all. An outdoor television adds to the experience, while the alfresco area has been designed for year-round outdoor living.

With automated screening allowing you to control the sun, breeze and shade at the touch of a button, this is an outdoor space that can be enjoyed in every season; whether hosting friends for dinner, relaxing in the spa or enjoying a quiet afternoon overlooking the surrounds.

Positioned within the Pelican Waters golf course precinct, residents can enjoy an enviable lifestyle with access to resort-style facilities, while the golf club, restaurants and surrounding amenities are all close at hand.

Features We Love
- Rare opportunity, the original developer's penthouse, returning to market for the first time in more than a decade
- Sweeping golf course and Caloundra coastal views
- North-east facing with an abundance of natural light
- Private rooftop terrace with putting green, spa, sauna and BBQ kitchen
- Year-round alfresco living with automated screening for sun, breeze and shade
- Large private wrap-around verandah with multiple areas to relax and entertain
- Beautifully appointed kitchen with stone benchtops and quality appliances
- Plumbed-in refrigerator with water purifier
- Spacious open-plan living, dining and kitchen designed around the views
- Generous master suite with walk-in wardrobe and ensuite with dual basins
- Two additional generous bedrooms, with bedroom three enjoying its own ensuite
- Quality flooring and stone finishes throughout
- Large practical laundry with stone benchtops
- Additional storage for added convenience
- Secure gated parking with double car space and storage
- Resort-style complex facilities, including pool, gym, tennis court, spa and hair salon
- Golf course lifestyle with the Pelican Waters Golf Club and dining options nearby
- A private, elevated residence offering space, luxury and a lifestyle that is difficult to replicate

This is more than a penthouse apartment. It is a private, elevated home designed around space, views, entertaining and enjoying the very best of coastal living.
A viewing is highly recommended to truly appreciate the scale, presentation and lifestyle this exceptional residence has to offer. Contact Brooke Walters or April O'Neal to arrange your Private Inspection today!

Property History for 1202/38 Mahogany Dr, Pelican Waters, QLD 4551

A timeline of how this property has performed in the market
Last Transferred
$735,000
03 Jun 2014
  • 12 Aug 2026
    Listed for Sale FOR SALE
  • 05 Feb 2020
    Listed for Sale Offers over $1.3 million
  • 03 Jun 2014
    Transferred for $735,000
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About Pelican Waters 4551

The size of Pelican Waters is approximately 8.4 square kilometres. There are 15 parks, covering nearly 17.6% of the total area. The population of Pelican Waters in 2016 was 6277 people. By 2021 the population was 7393 showing a population growth of 17.8% in the area during that time. The predominant age group in Pelican Waters is 60-69 years. Households in Pelican Waters are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Pelican Waters work in a professional occupation.In 2021, 85.60% of the homes in Pelican Waters were owner-occupied compared with 82.70% in 2016.

Pelican Waters has 3,814 properties. Over the last 5 years, Houses in Pelican Waters have seen a 57.47% increase in median value, while Units have seen a 91.90% increase. As at 31 July 2026:

  • The median value for Houses in Pelican Waters is $1,675,933 while the median value for Units is $1,172,139.
  • Houses have a median rent of $990 while Units have a median rent of $750.
There are currently 45 properties listed for sale, and 7 properties listed for rent in Pelican waters on OnTheHouse. According to Cotality's data, 192 properties were sold in the past 12 months in Pelican waters.

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Cotality Copyright and Legal Disclaimers about Property Data
Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.