Key Investment Insights
AI generated. Confirm details with the seller.
1. 36 two‑bedroom apartments total, with 24 units in the letting pool, indicating an established rental inventory and letting focus.
2. High local demand, stated waiting list for tenants, supported by Cairns vacancy rate under 1%.
3. Net profit reported at $131,000, with remuneration/Body Corp salary of $80,500 and annual CPI salary review, showing clear owner earnings.
4. Business value quoted at $550,000, price marked SOLD.
5. Manager’s 3 bedroom, 2 bathroom apartment valued at $650,000, 129m2 with large balcony, currently generating $80,000 p.a. gross on Airbnb, income excluded from reported figures.
6. Manager operational flexibility, no set office hours and no obligation to live onsite, reducing staffing constraints.
7. Long agreement stability, 25 year agreement term with 22 years remaining, supporting predictable future operations.
8. Strong on‑site amenity package including resort‑style pool, barbecue and entertaining area, basement parking, secure access and WiFi, enhancing guest appeal and yield potential.
9. Low maintenance landscaped grounds and a good schedule of fittings and fixtures, implying controlled ongoing upkeep costs.
10. Prime Cairns CBD location, within short stroll of major attractions and offering expansive mountain views, supporting occupancy and premium rates.
11. Unit mix and occupancy structure: 9 owner‑occupied units, 2 managed by outside agents, 1 manager unit, suggesting majority control of letting pool and operational consistency.
12. Notable upside: manager apartment’s high independent Airbnb income and stated capital gain opportunity, providing additional value levers beyond core business earnings.
Management Rights Multiplier: 3.51
ROI Estimate: 11.80%
