Coolangatta, Queensland

Spectacular Ocean Views!!!

SOLD

Business Description

Spectacular Ocean Views!!!

This older style complex offers affordable Rainbow Bay & Coolangatta accommodation. All of the self-contained apartments offer north facing, spacious balconies that allow you to bask in the sun. The ocean views of pristine beaches span the bay, all the way up to Surfers Paradise.

Rainbow Bay offers a quiet, safe & peaceful environment away from the hustle of the Gold Coast centre and Coolangatta is right around the corner.

Ideally situated if you love surfing, the home of the Quiksilver Pro & Roxy Pro, Snapper Rocks & Duranbah is right outside your doorstep.

An older style 2 bedroom, 2 bathroom managers apartment over two levels, with the bedrooms upstairs and the lounge cum dining room and kitchen at ground level, the kitchen leads out to an exclusive patio area overlooking the tennis court. The apartment allows for secure and direct access from the lounge area to the secure basement parking. The apartment has good views of one of the world's best surf beaches across the street.

To arrange an inspection please call: Gavin - ---------- or email: ----------

Business Summary

Business Snapshot

Price: SOLD Net Profit: $402,000 Remuneration / Body Corp Salary: $62,200

Managers Unit

Value of Managers Apartment: $795,000Office: Exclusive Use

An older style 2 bedroom, 2 bathroom managers apartment over two levels, with the bedrooms upstairs and the lounge cum dining room and kitchen at ground level, the kitchen leads out to an exclusive patio area overlooking the tennis court. The apartment allows for secure and direct access from the lounge area to the secure basement parking. The apartment has good views of one of the world's best surf beaches across the street.

Complex Information

Complex Type: Resort/HolidayTotal Units in Complex: 52Owner Occupy Units: 4Outside Agent Units: 1

Marketing Agent

Gavern Property

Gavern Property - Management Rights

Key Investment Insights

1. The complex offers affordable accommodation in a quiet and peaceful environment away from the hustle of the Gold Coast centre.
2. The apartments have spacious north-facing balconies with spectacular ocean views of pristine beaches stretching all the way to Surfers Paradise.
3. The location is ideal for surfers, with famous surf spots such as Snapper Rocks and Duranbah right outside the doorstep.
4. The managers apartment is an older style 2 bedroom, 2 bathroom unit with direct access to secure basement parking and views of the surf beach.
5. The net profit for the business is $402,000, with a remuneration/Body Corp salary of $62,200.
6. The value of the managers apartment is $795,000.
7. The complex is a holiday/resort type with a total of 52 units, 4 of which are owner-occupied and 1 is managed by an outside agent.

Management Rights Multiplier: 4.98
ROI Estimate: 20.10%