429/38 Mahogany Drive, Pelican Waters, QLD 4551 | Property Value & History | OnTheHouse
OFF MARKET

429/38 Mahogany Drive
Pelican Waters QLD 4551

Bedrooms: 2
Bathrooms: 2
Car spaces: 2
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Last updated 17 Aug 2026
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Property Details for 429/38 Mahogany Dr, Pelican Waters

429/38 Mahogany Dr, Pelican Waters is a 2 bedroom, 2 bathroom Unit with 2 parking spaces.

Building Type
Unit
Local Government
Sunshine Coast Regional

Last Listing description (June 2025)

Calling all shrewd Investors looking to secure a "Hotel Pool" dual key apartment in the prestigious Pelican Waters Resort. Not only can you get a great annual return you can also use your investment for personal use for up to 3 months of the calendar year for long weekends, golf holidays or school holiday breaks here in this fantastic location on the Sunshine Coast.

The apartments both come fully furnished and with their own balconies (the one-bedroom apartment benefiting from two balconies) separate bathrooms and their own private entrances. Both apartments come with air-conditioning and built-in wardrobes.

The one-bedroom apartment has its own lounge area and bedroom, bathroom/ensuite coupled with its own laundry cupboard with washing machine and tumble dryer and two balconies both with far reaching views.

The studio apartment has a lounge and bedroom area combined with its own bathroom and its own balcony again with far reaching views.

This dual key apartment has two parking spaces in the secure underground parking area at the Pelican Waters Resort. The property is a short stroll to the Pelican Waters Golf Course and Club House which is ideal for any golf lovers coming on holiday on The Sunshine Coast.

The Resort offers two refreshing swimming pools as well as a heated lap pool, a barbecue area and lush gardens and tennis courts. The Pelican Waters Resort also has its own restaurant, sports bar and "room service" facility. The location is paramount with direct access to Pelican Waters Golf Club, within easy walking distance to Golden Beach shops, shopping centres and Tavern. Dual key apartments rarely become available to the market so please contact Louis d'Espagnac on 0431898940 to not miss out on this excellent investment opportunity.

- Fully furnished one bedroom apartment plus a separate Studio apartment
- Contemporary design featuring open-plan living
- Well maintained Resort style complex with on-site management
- Three balconies overlooking the golf course
- Sparkling heated inground lap pool plus children's pool
- 2 Tennis Courts - access to the gymnasium by membership
- Secure car spaces and close to public transport
- *10-minute to the Caloundra CBD & local beaches
- *30-minute to Sunshine Coast Airport & Sunshine Plaza
- *45-minute drive to Noosa
- *1hr 10 mins drive to Brisbane International & Domestic Airports
- Rates $2,640.50 per half year
- Body corporate $10,226.43 after discount
* Approximately

Information contained on any marketing material, website or other portal should not be relied upon and you should make your own enquiries and seek your own independent advice with respect to any property advertised or the information about the property.

Property History for 429/38 Mahogany Dr, Pelican Waters, QLD 4551

A timeline of how this property has performed in the market
Listed for Rent
$255/w
25 Sep 2018
  • 15 May 2025
    Listed for Sale Offers Over $399,000
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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 3,826 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 47 properties listed for sale, and 8 properties listed for rent in Pelican waters on OnTheHouse. According to Cotality's data, 186 properties were sold in the past 12 months in Pelican waters.

Suburb Insights for Pelican Waters 4551

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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.