Cairns City, Queensland

Delightful Permanent Cairns City

SOLD

Business Description

This delightful permanent property is within a short stroll of all the best Cairns has to offer. Thirty six two bedroom apartments with expansive views to the glorious mountain ranges. Good schedule of fittings and fixtures. The 2 bedroom 2 bathroom manager’s apartment is no exception and has the office on title. Four apartments have been fully furnished by the manager and a higher rental is charged. Low maintenance landscaped grounds; great pool area, good salary and excellent opportunity for capital gain make this a very desirable property. High rental demand property with waiting list. Short term rental is also possible with owner approval. This would significantly improve the net profit.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $121,000

Managers Unit

Value of Managers Apartment: $270,000Bedrooms: 2Bathrooms: 2Office: On TitlePets OK: Yes
Spacious 2 bedroom two bathroom apartment with large patio

Complex Information

Complex Type: n/aTotal Units in Complex: 36Pool: YesBBQ Area: YesPay TV: YesWIFI: Yes
Marketing Agent
Alex Barker-Ré
Alex Barker-Ré

Calvin Bailey Management Rights

Calvin Bailey Management Rights

Key Investment Insights

1. The property is located in a highly desirable area of Cairns, within walking distance to all amenities and attractions.
2. The complex consists of 36 two-bedroom apartments with stunning views of the mountain ranges.
3. The manager's apartment is a spacious 2 bedroom, 2 bathroom unit with an office on title.
4. The complex has low maintenance landscaped grounds and a great pool area.
5. The property has a good schedule of fittings and fixtures, making it attractive to potential buyers.
6. The manager has furnished four apartments, allowing for a higher rental rate and potential for increased profit.
7. There is high rental demand for the property, with a waiting list for potential tenants.
8. Short term rentals are possible with owner approval, which could significantly increase the net profit.
9. The manager's apartment has a value of $270,000, providing additional value to the sale.
10. The complex offers amenities such as a pool, BBQ area, pay TV, and WIFI, making it attractive to potential tenants.
11. The property has a net profit of $121,000, making it a profitable investment opportunity.
12. There is potential for capital gain with this property, making it a desirable long-term investment.
13. Pets are allowed in the complex, providing additional flexibility for potential tenants.
14. The property is suitable for both permanent and short-term rentals, providing versatility for the new owner.
15. The sale price for the property is currently undisclosed, but it has been sold.

Management Rights Multiplier: 3.97
ROI Estimate: 25.21%

Listing location

This Business is sold

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