Clifton Beach, Queensland

Very Manageable Permanent Letting Business

$795,000

Business Description

EXCLUSIVE AGENCY

Here is a rare opportunity to acquire a very modern, very manageable permanent letting business in a location close to one of Cairns favoured northern beaches. The complex was built in 2007 to meet the growing demand in this area for quality family accommodation close to schools, James Cook University and the surrounding environs. Since opening, this property has been close to 100% occupancy without much effort. A continuing demand for 3 bedroom family apartments to let means the ‘vacancy’ sign hardly gets used.

The complex has been designed to make the most of the grounds having established trees and nearby streams. Every apartment has an appealing outlook and affords maximum privacy for the occupants offering spacious three bedroom accommodation that is sought after not only by families but professionals and those who prefer the ‘spare room’ for study or storage. Every apartment is very tastefully appointed and it is little wonder the vacancy rate is down and the rents hold up.

The grounds are well laid out and thoughtfully landscaped.

The manager’s apartment is one of the better three bedroom apartments available. The apartment is not only very tasteful but has its own private garden offering pup an exercise area and a lovely outlook from the living room and patio. The spacious office is on title and also provides for a ‘back office’ area with extra storage. There is the option to live off-site.

This property and business would be ideal for those seeking a very sound business with excellent living arrangements.

Business Summary

Business Snapshot

Price: $795,000 Net Profit: $108,000 Remuneration / Body Corp Salary: $101,381

Managers Unit

Value of Managers Apartment: $440,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 46Total Units in Letting Pool: 9Owner Occupy Units: 28Outside Agent Units: 8Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: Yes

Marketing Agent

Geoff Ellis

0432 79....

North Queensland Management Rights

Key Investment Insights

1. Rare opportunity to acquire a modern and manageable permanent letting business in a sought-after location close to a popular beach.
2. High occupancy rate of close to 100% since opening, with a continuing demand for 3 bedroom family apartments.
3. Well-designed complex with established trees and nearby streams, providing an appealing outlook and maximum privacy for occupants.
4. Tastefully appointed apartments with spacious three bedroom accommodation, appealing to families, professionals, and those in need of a spare room.
5. Thoughtfully landscaped grounds and well-maintained common areas.
6. Manager's apartment is one of the better three bedroom apartments available, with a private garden and spacious office on title.
7. Option to live off-site for those seeking a more hands-off management approach.
8. Ideal for those looking for a sound business with excellent living arrangements.
9. Net profit of $108,000 and remuneration/body corp salary of $101,381.
10. Manager's apartment valued at $440,000, with 3 bedrooms, 2 bathrooms, and 1 car space.
11. Complex information includes 46 total units, with 9 in the letting pool, 28 owner-occupied units, and 8 outside agent units.
12. Accommodation agreement module with a remaining term of 20 years.
13. On-site pool for residents to enjoy.

Management Rights Multiplier: 3.29
ROI Estimate: 30.42%