Key Investment Insights
1. The business for sale is a gated community in Cairns with 84 villas, making it a large and desirable property.
2. The property is located only 4km from the Cairns CBD, making it a convenient location for residents.
3. The villas are of top quality and offer extensive facilities, including a large lagoon-style pool, smaller pool, pergolas, barbecue areas, and a tennis court.
4. The manager's villa is a spacious three bedroom, two bathroom unit with quality fittings and a large office.
5. The business has a good net profit of $315,000 and a remuneration/body corp salary of $220,000, with annual CPI increases.
6. Cairns currently has a low vacancy rate and rental rates are on the rise, making it a desirable location for investment.
7. The manager is not required to reside on-site, providing flexibility for the owner.
8. The body corporate has approved pets for the manager's apartment.
9. The manager's residence is currently being Airbnb let for $90,000 per year, providing additional income for the owner.
10. The complex is a permanent let property, with 41 units in the letting pool and 40 owner-occupied units.
11. The agreement module is accommodation and has a remaining term of 22 years.
12. The complex offers amenities such as a pool, tennis court, BBQ area, and WIFI.
13. The manager's unit has a value of $650,000 and is a spacious 148m2 with a garden.
Management Rights Multiplier: 4.44
ROI Estimate: 22.50%
