Cairns North, Queensland

The Perfect Permanent property

SOLD

Business Description

A newish modern property to fall in love with in perfect position close to Beach. No set office hours. Delightful permanent block in the Northern Beaches of Cairns and only 20 minutes to the CBD. Over 50 units in the complex with almost all in the rental pool. Spacious 2 bedroom 2 bathroom manager's apartment, all top quality luxury rental apartments. Very good, well managed property with excellent potential and easily run as a one person operation. The possibility to convert to holiday letting exists. Good salary and excellent cash flow business. Cairns currently has one of the lowest vacancy rates in the country at 2% and rental rates are on the rise due to quality rental shortage. Manager not required to live on site. Agreements Gallery Vie compliant.
Contact Calvin for full property details.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $168,000

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Modern property in perfect location close to the beach
2. No set office hours, allowing for flexible work schedule
3. Large permanent block with over 50 units in the complex
4. Majority of units in the rental pool
5. Spacious 2 bedroom, 2 bathroom manager's apartment
6. Top quality luxury rental apartments
7. Well-managed property with potential for growth
8. Can be easily run as a one-person operation
9. Possibility to convert to holiday letting
10. Good salary and excellent cash flow business
11. Low vacancy rates in Cairns (2%) and rising rental rates
12. Manager is not required to live on site
13. Agreements are Gallery Vie compliant

Management Rights Multiplier: 4.52
ROI Estimate: 22.11%