Cairns City, Queensland

Price Reduction - Absolute Cairns CBD Permanent

SOLD

Business Description

Permanent let multilevel property within walking distance of all central facilities.
This is a very easy business to run and with minimal caretaking: less than 15 hours per week.

Ideal for semi-retired persons or as an add-on to your existing business.

It really is the perfect recession and inflation proof business.
All rental apartments are furnished and the astute manager will convert these to short term corporate stays to effectively grow the business.

Fantastic managers apartment on level one.
Call Calvin or Alex today for more information.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $88,852 Remuneration / Body Corp Salary: $69,760Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $380,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: OtherPets OK: Yes

Spacious apartment with huge balcony area.

Complex Information

Complex Type: PermanentTotal Units in Complex: 27Total Units in Letting Pool: 12Owner Occupy Units: 14Manager Units: 1Pool: YesBBQ Area: Yes

Marketing Agent

Calvin Bailey

Alex Barker-Ré

Calvin Bailey Management Rights

Key Investment Insights

- Price has been reduced for this business, making it a more attractive investment opportunity.
- Located in the heart of Cairns CBD, within walking distance of all central facilities, making it a convenient and desirable location for tenants.
- Requires minimal caretaking, with less than 15 hours of work per week, making it an easy business to run.
- Ideal for semi-retired individuals or as an add-on to an existing business.
- Considered a recession and inflation proof business, providing stability and security for potential buyers.
- All rental apartments are furnished, providing an added convenience for tenants.
- Potential for growth by converting rental apartments to short-term corporate stays.
- Includes a spacious manager's apartment with a large balcony area.
- Complex consists of 27 units, with 12 units in the letting pool and 14 owner-occupied units.
- Facilities such as a pool and BBQ area are available for tenants to use.

Management Rights Multiplier: 3.55
ROI Estimate: 28.21%