Bilinga, Queensland
GREAT MIXED LETTING COMPLEX IN A FANTASTIC BEACHSIDE LOCATION
SOLD
Business Description
Located in the beautiful Southern Gold Coast suburb of Bilinga, this Management Rights complex is a short walk to the great cafes and restaurants of Kirra Beach and is minutes away from some of the best beaches on the Gold Coast. This complex ticks all the boxes for someone looking to secure a good income and a great lifestyle.
The property comprises of 42 units with a mix of holiday and permanent letting. There is a beautiful swimming pool, low maintenance lush tropical gardens and BBQ area.
An easy complex to manage in a fantastic location, know requirement to live on site no set office hours this property would suit first timers to the industry or an experienced operator looking to add to their existing business.
- Mix of holiday and permanent lets
- No requirement to live onsite
- No set office hours
- Beautiful fully renovated 2 bedroom residence with potential to convert to 3 bedroom
- Very manageable caretaking duties
- Currently run by husband and wife team
- Net profit $170,726
Call now to book an inspection.
Property Code: 1181
Business Summary
Business Snapshot
Price: SOLD
Net Profit: $170,726 Remuneration / Body Corp Salary: $79,466Body corp salary review: CPI Annually
Managers Unit
Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: Exclusive UsePets OK: YesBeautifully renovated 2- bedroom 2- bathroom unit with potential to convert office space to a 3rd bedroom. 2 balconies offering lovely outdoor spaces in a lush tropical garden setting.
Complex Information
Complex Type: n/aTotal Units in Complex: 42Total Units in Letting Pool: 15Owner Occupy Units: 23Outside Agent Units: 2Lockup Units: 2Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesSpa: YesBBQ Area: YesWIFI: Yes
Key Investment Insights
1. Located in a highly desirable beachside suburb on the Southern Gold Coast, close to popular cafes and restaurants and minutes from some of the best beaches in the area.
2. 42 unit complex with a mix of holiday and permanent letting, providing a diverse and stable income stream.
3. Low maintenance and attractive amenities, including a swimming pool, lush tropical gardens, and BBQ area.
4. No requirement to live onsite and no set office hours, offering flexibility and a great work-life balance.
5. Potential to convert the fully renovated 2-bedroom residence into a 3-bedroom, providing additional living space or potential for rental income.
6. Very manageable caretaking duties, suitable for first-time managers or experienced operators looking to expand their business.
7. Currently run by a husband and wife team, offering the opportunity for a new owner to take over and continue the successful operation.
8. Strong net profit of $170,726, providing a solid return on investment.
9. Exclusive use office space and pet-friendly complex.
10. Long agreement term of 25 years with 18 years remaining, providing security and stability for the new owner.
11. Attractive amenities, including a pool, spa, BBQ area, and WIFI, making it a desirable destination for guests.
12. Agreement module of Accommodation, providing flexibility for the manager to set their own rates and manage their own bookings.
13. Limited competition in the area, making it a desirable and sought-after complex for guests.
14. Potential for growth and expansion, with the option to increase the number of units in the letting pool and increase income.
15. A fantastic opportunity for someone looking to secure a good income and a great lifestyle in a highly desirable location.
