Arundel, Queensland

Terrific Body Corporate Remuneration

SOLD

Business Description

Just 5 minutes from the new University Hospital & Griffith University, these very well presented split level villas boast 3 bedrooms, two bathrooms and great back yards.

This Security Gated Complex has a beautiful pool area with BBQ, full size tennis court and plenty of parking for guests. An extremely pleasant place to work, rest and play.

This is a much sought after complex by university students and hospital staff with these townhouses in high demand.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $276,000 Remuneration / Body Corp Salary: $143,708Business Value: $1,530,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $390,000Bedrooms: 3Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes

Great Location, Office on Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 90Total Units in Letting Pool: 58Owner Occupy Units: 18Outside Agent Units: 13Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesTennis Court: YesPay TV: Yes

Other Features / Notes

Pool, Tennis Court, BBQ

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. Highly desirable location just 5 minutes from the new University Hospital and Griffith University.
2. Well-maintained and attractive split level villas with 3 bedrooms and 2 bathrooms.
3. Security gated complex with a beautiful pool area, BBQ, and full-size tennis court.
4. Plenty of parking for guests.
5. High demand for townhouses from university students and hospital staff.
6. Strong net profit of $276,000.
7. Generous remuneration/body corporate salary of $143,708 with annual CPI reviews.
8. Managers apartment valued at $390,000 with 3 bedrooms and 3 bathrooms.
9. Office on title.
10. Pet-friendly complex.
11. Permanent complex with 90 units, 58 in the letting pool.
12. Long agreement term of 25 years with 21 years remaining.
13. Additional amenities such as a pool, tennis court, and pay TV.
14. Great location and office on title.

Management Rights Multiplier: 5.54
ROI Estimate: 14.38%