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: 16.13%
