Carrara, Queensland

Permanent MR with Netting Over $192K in Carrara

$2,190,000

Business Description

• Motivated vendors, priced to sell.
• One apartment and one townhouse complexes with only permanent letting in GC prime location.
• Total 94 units including 39 apartment units and 55 townhouses
• Solid stable income with remuneration in total of $149,583 pa, over 77% of net profit comes from BC salary.
• 2 manager units, one rare 4 bedroom apartment and one 3 bedroom house, up for sale with respective office on title, valued at $780K (currently rented $795/week), and $580K (potential rental $550/week)
• Not required to live onsite, no set office hours
• Supportive committees - both complexes topped up their agreements last year with additional EGM top up on the townhouse complex this year
• Great as an add on to your existing management rights portfolio
• Close to all amenities. shops and public transport
• Quick access to M1 to both North or South
• Don't miss this unique opportunity, contact us today to book an inspection

Business Summary

Business Snapshot

Price: $2,190,000 Net Profit: $192,105 Remuneration / Body Corp Salary: $149,583Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $780,000Bedrooms: 4Bathrooms: 2Car Spaces: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 94Total Units in Letting Pool: 25Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 19 & 17 yearsPool: Yes

Marketing Agent

Greg Yang

0430 24....

Onsite Management Rights

Key Investment Insights

1. Motivated vendors, priced to sell.
2. Two complexes with only permanent letting in prime Gold Coast location.
3. Solid stable income with majority of net profit coming from BC salary.
4. Two manager units included in sale, one rare 4 bedroom apartment and one 3 bedroom house.
5. Supportive committees with recent top-ups to agreements.
6. Great opportunity as an add-on to an existing management rights portfolio.
7. Close to all amenities, shops, and public transport.
8. Quick access to major highway for easy travel north or south.
9. Unique opportunity, don't miss out.
10. Total of 94 units in complex with 25 in letting pool.
11. Agreement module is Accommodation with 19 and 17 years remaining.
12. On-site pool for residents.
13. Managers unit valued at $780,000.
14. Net profit of $192,105 with remuneration of $149,583.

Management Rights Multiplier: 7.34
ROI Estimate: 13.62%