13 / 6 Back Street, Biggera Waters, Queensland

Waterfront Mixed letting in Biggera Water/brilliant business !!

PRICE REDUCTION - $1.26M MR & $840k Unit = Total $2.1M

Business Description

Come and check out this mixed letting complex in Biggera Waters. All the hard work has been done. Fully renovated Managers 3 bedroom 2 bathroom apartment with front and back Balconies. No office hours on agreement and close to the Broadwater. A massive 32 in the letting pool (with 25 Holiday and 7 permanent).

* MIXED LETTING
* BIG BC SALARY
* 21 YEARS LEFT AGREEMENT (JUST GOT TOP UP)
* FULLY RENOVATED 3 BEDROOM MANAGERS RESIDENCE
* NO OFFICE HOURS ON AGREEMENT
* REPEAT GUESTS
* Office on title
* Complex has Two Pools and access to a Marina
* Mid Size Tennis court
* All balconies facing the lovely open grounds and pools and the Mariner

Come and inspect this property now and reap the benefits of the hard work that has been done.

Call Kerrie Lush ---------- for all the information

Business Summary

Business Snapshot

Price: PRICE REDUCTION - $1.26M MR & $840k Unit = Total $2.1M Net Profit: $306,714 Remuneration / Body Corp Salary: $108,615

Managers Unit

Value of Managers Apartment: $840,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 65Total Units in Letting Pool: 32Owner Occupy Units: 27Outside Agent Units: 5Lockup Units: 1Agreement Term: 21 yearsAgreement Term Remaining: 21 years

Marketing Agent

Kerrie Lush

0416 08....

Ras360

Key Investment Insights

1. Fully renovated 3 bedroom, 2 bathroom manager's residence with front and back balconies.
2. No office hours on agreement, allowing for a more flexible work schedule.
3. A large 32 units in the letting pool, with a mix of 25 holiday and 7 permanent rentals.
4. A big body corporate salary, providing a steady income for the managers.
5. Long agreement term of 21 years, with a recent top-up.
6. Repeat guests, indicating a strong and loyal customer base.
7. Office on title for easy management of the complex.
8. Two pools and access to a marina for added amenities and attractions for guests.
9. Mid-size tennis court for recreational activities.
10. All balconies facing open grounds, pools, and marina for a pleasant view.
11. Prime location in Biggera Waters, close to the Broadwater.
12. Opportunity to reap the benefits of the hard work already done by the current owners.
13. Total asking price of $2.1 million, including the manager's unit and management rights.
14. Net profit of $306,714, providing a solid return on investment.
15. Remuneration/body corporate salary of $108,615, providing additional income for the managers.

Management Rights Multiplier: 4.11
ROI Estimate: 24.34%