68/2-10 Coolgardie Street, Elanora, Qld 4221

Welcome to this rare and exciting opportunity to secure one of the most exclusive residences in the sought-after Isle of Palms Resort, overlooking beautiful Pine Lake. One of only eleven 4-bedroom residences with its own private pool! This unique property also has a versatile room downstairs which can be used as a 5th bedroom or study.

These homes on the beautiful island are known by residents as the “penthouse of the island”, and it’s easy to see why. Set quietly at the back of the complex and enjoying a spectacular west-facing aspect across one of the widest points of Pine Lake, this home boasts breathtaking sunsets, tranquil water views, and a peaceful setting that feels worlds away — yet it’s right in the heart of Elanora.

This unique residence has been thoughtfully designed for relaxed lakeside living, offering generous space, natural light, and versatility across two levels. Upstairs features four large bedrooms, two with stunning water views. The expansive master suite complete with a spa ensuite, built in robe,  and balcony access to enjoy the view. Downstairs, a separate study offers the ideal home office or creative space, while the spacious lounge, dining, and kitchen area flows seamlessly to the large outdoor alfresco, private pool, and lakefront entertaining zone — perfect for making memories with family and friends as the sun dips over the water. With areas of fresh paint, the home is ready to move straight into, while also providing a blank canvas to personalise it to your taste and add value over time.

Whether you’re looking for a fantastic family home in a secure, gated community or a standout investment with excellent short- or long-term rental returns, this property delivers on all fronts. With space for four vehicles (two in the garage and two in front), loads of internal storage, and access to resort-style amenities, this rare opportunity won’t last long — the last ‘penthouse’ townhouse of this kind sold over seven years ago. Don’t miss your chance to own a slice of paradise on Pine Lake.

Property Features:
- 4 Large Bedrooms Upstairs: Two with stunning lake views, all with built-in robes and ceiling fans; master suite with spa ensuite, balcony access and breathtaking lake views.
- Versatile 5th Room Downstairs: Perfect as a study, guest room, or 5th bedroom to suit your family's needs.
- Private In-Ground Pool: Overlooks the lake — the perfect spot to unwind and watch the sunset.
- Spacious Outdoor Alfresco: Covered and open-air entertaining zones for dining, lounging, and soaking up the views.
- 3 Bathrooms: Renovated family bathroom upstairs, full bathroom downstairs, ensuite in Master, plus a separate downstairs toilet and laundry.
- Freshly Painted: Downstairs interior living spaces, balcony, and double garage recently updated for a clean, modern feel.
- Double Lock-Up Garage: Plus two additional exclusive-use parking spaces.
- Solar Panels Installed: Save on energy costs with an eco-friendly solar power system.
- Quiet & Private Position: Tucked at the rear of the island for ultimate peace and quiet.
- Lakeside Living: Wide water frontage with some of the best views in the resort.
- Neat Condition Throughout: Move-in ready with the opportunity to update and make your own over time.

Additional Information:
• Rental return: $1,100 per week for a long-term rental
• Expected annual net short-term holiday rental return: $69,000 per annum
• Body Corporate approx. $160 per week, including maintenance of all facilities and gardens, building insurance, and sinking fund
• Council rates approx. $2,100 p/a
• Water rates approx. $1,900 p/a

About The Isle of Palms Resort:
Nestled on a private island on Pine Lake, the gated Isle of Palms Resort offers a relaxed and secure lifestyle with beautifully landscaped grounds and premium on-site amenities, including:
2 Swimming Pools
2 Heated Spas 
2 Tennis Courts
BBQ Areas
Clubhouse/Function Room
Kids Games Room
Gated Security and On-Site Management
This tightly held community is known for its peaceful environment, holiday feel, and proximity to everything you need.

Prime Location:
The location is unbeatable — within walking distance to The Pines Shopping Centre, Elanora Library, Pirate Park and Palm Beach Parklands, Palm Beach Aquatic Centre, and fantastic local primary and high schools. You're just a short stroll or bike ride to the golden sands of Palm Beach and a few minutes’ drive to Currumbin Creek, the M1, and Gold Coast Airport. Whether it’s a family outing, weekend farmers market, or morning surf, everything is right at your fingertips.

This is a once-in-a-decade opportunity to own one of Pine Lake’s most exclusive waterfront homes. With unmatched views, spacious design, and a lifestyle that feels like a holiday every day – this penthouse won't last long.

Contact Emily Drew on 0451 948 315 for more information.

Advertising Disclaimer: You are advised that while every effort has been made to ensure the accuracy of information herein is true, accurate and obtained from reliable sources and is for general information only. Drew Property Group and related entities are not responsible for and disclaims all liability and responsibility, including for negligence, for errors, for omissions or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein and must instead satisfy themselves by inspection or otherwise.