You can buy this beachfront property for $100k - but there's a catch

If you’ve ever dreamed of owning a Queensland beachfront apartment but have been priced out of the market, this Sunshine Coast property has been listed with a price tag below $100,000.

The former hotel room within the Ramada Resort offers “absolute beachfront” views of Marcoola Beach and access to the resort’s facilities like a pool, gym, onsite restaurant, and sports bar.

It went on the property market about a fortnight ago, with the agent accepting offers over $95,000.

The space has been turned into a small studio apartment, with potential for the right buyer to use it as a rental investment, or enjoy themselves as a weekend getaway, listing agent Mark McDonald of North Shore Realty Marcoola told Yahoo7.

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“For under $100,000 – it’s a apartment right on the beach. You can look far and wide but you wouldn’t find something else like it.”

There’s no kitchen included, but being in the heart of town, restaurants and take-away options are in abundance.

Too good to be true?

The only thing that could stop potential buyers from making this bargain buy is finance.

The apartment is just 25 square metres, so it falls under the minimum size requirements banks require to lend against, Mr McDonald told Yahoo7.

“Banks won’t lend on properties less than 50 square metres in size,” he said.

So essentially, it’s a cash-only deal – but a bargain buy for anyone with the finance to pay up front. On the opposite side of the spectrum, a $45 million penthouse is set to go in the property market, touted as Melbourne’s most expensive apartment.