Cairns City, Queensland
Exclusive Permanent / Holiday Cairns CBD
$2,225,000
Property Description
Contemporary, exclusive four-level mixed letting resort in a prime, quiet northern location adjacent to the Cairns Esplanade.
Ideally positioned at the quieter end of the Esplanade yet still handy to all the city has to offer
Offering a total of 95 spacious two and three bedroom apartments, this quality residential / holiday resort is in a high demand area.
Excellent body corporate salary and good agreements.
A good mix of holiday and permanent letting is offered.
Further growth ongoing as conversion to holiday letting progresses as demand requires.
Cairns long term rental vacancy rate is down to less than 2% with rental rates rising.
No new apartment properties have been built for ten years.
Rarely do opportunities for properties of this calibre and upside come along.
Opportunity for manager to upgrade to 3 bedroom apartment.
Small manager pet allowed.
Gallery Vie compliant.
Contact Calvin for further property details.
Property Summary
Business Snapshot
Price: $2,225,000
Net Profit: $407,000 Remuneration / Body Corp Salary: $140,593
Managers Unit
Value of Managers Apartment: $380,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: YesTwo bedroom / two ensuite apartment with office attached.Plus, the opportunity for manager to upgrade to three bedroom apartment.
Complex Information
Complex Type: MixedTotal Units in Complex: 95Total Units in Letting Pool: 33Holiday Units: 16Permanent Units: 17Owner Occupy Units: 42Outside Agent Units: 19Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 25 yearsPool: YesGym: YesBBQ Area: YesWIFI: Yes
