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: $143,708Body 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: 58Permanent Units: 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 sought after complex by university students and hospital staff
2. Located just 5 minutes from the new University Hospital and Griffith University
3. Well-presented split level villas with 3 bedrooms and 2 bathrooms
4. Beautiful pool area with BBQ and full-size tennis court
5. Plenty of parking for guests
6. Security gated complex
7. High demand for townhouses in the complex
8. Net profit of $276,000
9. Remuneration/Body Corp Salary of $143,708 with annual CPI review
10. Manager's apartment valued at $390,000 with 3 bedrooms and 3 bathrooms
11. Office on title
12. Pets allowed in the complex
13. Permanent complex with 58 units in the letting pool
14. Agreement module is accommodation with a term of 25 years and 21 years remaining
15. Additional features include a pool, tennis court, and pay TV.

Management Rights Multiplier: 5.54
ROI Estimate: 18.04%