Key Investment Insights
AI generated. Confirm details with the seller.
1. Asking price $220,000 on verified net income $48,686, implying an approximate pre-tax cash yield of about 22.1% on purchase price.
2. Significant recurring Body Corporate salary of $25,694, representing roughly 53% of verified net income, providing a stable base revenue stream.
3. Body Corporate salary increases annually by CPI each July, offering predictable income escalation and protection against inflation.
4. Prime bayside Cleveland location, within short walking distance to Raby Bay Harbour restaurants, Cleveland CBD, train station and lighthouse, enhancing tenant appeal and occupancy potential.
5. Very well run, established complex with documented procedures, reducing transition risk and easing takeover for a new manager.
6. Minimal facilities in the complex, specifically no gate, pool, gym or BBQ, translating to lower maintenance obligations and simpler day-to-day management.
7. Small letting pool, which supports an undisturbed lifestyle for managers and suggests limited operational complexity for short-term letting administration.
8. Complex is described as stunning and popular with long-term tenants, indicating tenant stability and reduced turnover risk.
9. Business-only sale of a permanent management right, so buyer acquires management income without property purchase implications.
10. No onsite office required, expectations are to be contactable during normal hours, suiting a family or semi-retired couple seeking a low-intensity income and lifestyle.
