Chevron Island, Queensland

Centrally located MR offering work/life balance with No set office hours | Resort Brokers ID : MR007800

$910,000

Business Description

This three-story walk-up building on Chevron Island offers a boutique experience. It is conveniently located near popular cafes, restaurants, public transportation, and the lively Surfers Paradise area. The central location allows residents to enjoy the vibrant community atmosphere of Chevron Island.

This low-maintenance complex is suitable for first-time operators, existing operators looking to expand, or individuals seeking a work-life balance. There are no set office hours, and living on-site is not required. The current operator has chosen to live off-site while occupying the designated manager's lot and earning additional rental income. As such the manager's residence is currently receiving $18,000 which is in addition to the impressive $87,000 net business profit.

The property includes two secure underground carparks and extra storage space. A positive relationship exists with the Body Corporate/Committee. The price is set to sell and is very competitive for this area

- Centrally located. Short distance from heart of Gold Coast but removed on progressive Chevron Island
- Managers Unit is currently receiving $18,000 which is in addition to the impressive $87,000 net business profit
- Low maintenance gardens, facilities and caretaking duties
- Excellent opportunity for first time operator, experienced operator or investor alike
- Supportive and progressive Committee / Body Corporate
- Inspections by appointment only
Date updated: 03 Dec 2023 22:00:09

Business Summary

Business Snapshot

Price: $910,000 Net Profit: $87,000 Remuneration / Body Corp Salary: $58,040

Managers Unit

Value of Managers Apartment: $560,000Bedrooms: 2Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 33Total Units in Letting Pool: 17Holiday Units: 17Owner Occupy Units: 14Outside Agent Units: 1Agreement Term Remaining: 22 years

Marketing Agent

Syd Douglas

ResortBrokers

Key Investment Insights

1. Centrally located near popular cafes, restaurants, and public transportation
2. No set office hours, allowing for a work-life balance
3. Low-maintenance complex suitable for first-time operators or experienced operators looking to expand
4. Manager's unit currently receiving additional rental income of $18,000
5. Positive relationship with the Body Corporate/Committee
6. Competitive price for the area
7. Short distance from the heart of Gold Coast but removed on progressive Chevron Island
8. Low maintenance gardens, facilities, and caretaking duties
9. Excellent opportunity for investors
10. Supportive and progressive Committee/Body Corporate
11. 22 years remaining on the agreement term
12. Two secure underground carparks and extra storage space included
13. Living on-site is not required
14. Inspections by appointment only.

Management Rights Multiplier: 4.02
ROI Estimate: 24.86%