Coombabah, Queensland

Established Permanent Complex - Option To Live Off Site


Property Description

This is a great opportunity to purchase this well established permanent complex in the fast expanding northern corridor of the Gold Coast.

Situated close to:
- the shopping triangle of Harbour Town, Runaway Bay or Helensvale.
- Health precincts of Gold Coast University Hospital,
- Access to first class education facilities of Griffith University and schools,
- Close to public transport links
- and with easy access to M1.

With no office hours, no requirement to live on site, with a separate office the complex is currently run by one person, and is easy to manage.

Agreement recently topped up to full 10 years.

The net operating profit is close to $100,000 and this can quickly be increased as the existing manager does not undertake any maintenance himself plus there are 5 outside agents in the complex to bring into the pool.

Good body corporate salary at $75,000 (excl. GST) provides security of income.

Asking price is $930,000 and would be ideal for a sole operator, a couple entering into management rights or those winding down their careers.

Please contact Tony Ede on ---------- or ----------

Property Summary

Business Snapshot

Price: $930,000 Net Profit: $99,580 Remuneration / Body Corp Salary: $75,000

Managers Unit

Value of Managers Apartment: $530,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 46Total Units in Letting Pool: 14Holiday Units: 14Owner Occupy Units: 26Outside Agent Units: 5Lockup Units: 1Agreement Term: 10 yearsAgreement Term Remaining: 10 years
Marketing Agent
Tony Ede
Tony Ede

    RAAS Property Group

    RAAS Property Group

    Listing location

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