Carrara, Queensland
Vendor urgently wanting to move on .. BEST BUYING OPPORTUNITY!
SOLD
Business Description
On offer is the managements Rights and associated Real Estate of 2 gated permanent complexes that are side by side in the highly desired suburb of Carrara on the Gold Coast in Queensland.
Additionally, there is a rental pool from another neighbouring property that is parcelled with this.
These easily managed complexes in the heart of Carrara can be run by one person.
There is a total of 188 units in the offering with 56 in the letting pool. Accommodation module agreements are in place.
The managers residence is a 3 bedroom townhouse with office attached and on title while a second 4 Bedroom residence is currently being rented out for $440 per week. The rent from this residence is not included in the nett profit.
Common area maintenance is minimal and is performed by one person and completed in less than one day per week.
All of the rental business is managed from one office and on one computer, but although there is no requirement to live onsite at the second complex, there is an obligation to purchase an apartment in it.
This offering is currently showing a net profit of $205,000 and there is massive upside for the next owner.
Business Summary
Key Investment Insights
1. Urgent sale: The vendor is motivated to sell and is looking for a quick transaction.
2. Management rights: The sale includes the management rights and associated real estate of two gated permanent complexes in Carrara, Gold Coast.
3. Rental pool: The sale also includes a rental pool from a neighboring property.
4. Easily managed: The complexes are easily managed and can be run by one person.
5. 188 units: The offering includes a total of 188 units, with 56 in the letting pool.
6. Accommodation module agreements: The complexes have accommodation module agreements in place.
7. Manager's residence: The manager's residence is a 3 bedroom townhouse with an attached office.
8. Additional residence: There is a second 4 bedroom residence that is currently being rented out for $440 per week.
9. Minimal common area maintenance: Common area maintenance is minimal and can be completed in less than one day per week.
10. One office and computer: All of the rental business is managed from one office and one computer.
11. Obligation to purchase an apartment: Although there is no requirement to live onsite at the second complex, the new owner must purchase an apartment in it.
12. Net profit: The offering currently shows a net profit of $205,000.
13. Massive upside: There is potential for significant growth and increased profits for the next owner.
