The two-level beachfront home sits on a 1016 square meter east-facing parcel fronting Warrain Beach, ranking as the seventh most expensive sale in the coastal town located 18km southeast of Nowra.
According to realestate.com.au, the luxury property features five bedrooms, three bathrooms, and an open-plan kitchen and dining area that extends to dual balconies overlooking the ocean.
The lower level includes a bar, living room, gym, and two-car garage, with a terrace and pool completing the package.
Previously operating as a “top-performing Airbnb,” the property last sold for $956,500 in 2010 and underwent a $462,000 renovation in 2017, significantly increasing its value in the intervening years.
Culburra Beach has seen strong property growth with PropTrack reporting a median house price of $974,500 after 74 sales in the past year.
While this represents a 1 per cent annual increase, values remain below the mid-2022 peak of $1,112,500.
The purchase comes at an emotional time for Klimenko, whose Erebus team led the Bathurst 1000 with just five laps remaining before finishing fourth.
The team had won the prestigious race in 2024.
The billionaire motorsport team owner has one of the most remarkable life stories in Australian sport.
Born to a drug-addicted prostitute in a Kings Cross Police Station jail cell in 1959, she was abandoned at an adoption nursery before being adopted by Westfield Group co-founder and John Saunders and his wife Eta.
Klimenko, now 66, has an estimated net worth of $1.4 billion and serves as co-vice chair of property group Terrace Tower Group.
View the listing here.
