13 / 6 Back Street, Biggera Waters, Queensland

Waterfront Mixed letting in Biggera Water/brilliant business !!

$1.300M MR & $840k Unit = Total $2.140M

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: $1.300M MR & $840k Unit = Total $2.140M 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. Mixed letting complex with a total of 65 units, 32 in the letting pool (25 holiday and 7 permanent).
2. Fully renovated 3 bedroom, 2 bathroom managers apartment with front and back balconies.
3. No office hours on agreement.
4. Repeat guests and high occupancy rates.
5. Office on title and access to two pools and a marina.
6. Mid-size tennis court on the property.
7. All balconies facing open grounds, pools, and marina.
8. 21 years left on the agreement with just a recent top-up.
9. Business and unit being sold together for a total of $2.140M.
10. Net profit of $306,714 with a remuneration/body corp salary of $108,615.
11. Owner occupy units make up 27 of the total units in the complex.
12. Outside agent units make up 5 of the total units in the complex.
13. Lockup units make up 1 of the total units in the complex.
14. Great location in Biggera Waters, close to the Broadwater.

Management Rights Multiplier: 4.24
ROI Estimate: 23.59%