This is a standout opportunity that has to be sold. Ideally located between Gold Coast CBD (35 minutes*) and Brisbane CBD (30 minutes*) this is a management rights opportunity with instant strong returns and huge growth potential.
A perfect entry-level management rights opportunity - Exceptionally motivated Sellers have instructed that I submit every offer for this fantastic budget buy. It's got to go.
* 25 unit complex called "Bella Monte" is only 1 year old
* Manager's unit on site - large 3 bedroom, 2 bathroom, 2 car park
* Secure private courtyard includes a large storage shed
* Over 9 years left on caretaker and letting agreements
* As the only On Site Manager, incredible opportunity to increase your income by converting 24 units into your letting pool
* $26,600* per annum caretaking income with CPI annual increases with very little time required to perform the works schedule
* Provides flexibility to earn extra income offsite with job or other business
* Very low body corporate fees per annum - $1,865* Admin Fund; $200 Sinking Fund (per Disclosure Statement)
Fantastic buying that provides flexibility to earn extra income offsite with job or other business. Do not miss this rare opportunity.
My Sellers are committed to sell and will consider all offers.
Priced to sell - tomorrow may be too late. Call Craig Cornish to arrange an inspection on ---------- .
Total Number of Units in complex: 25
Net Profit: $26,600
Business Price: $70,000
Real Estate Price: $390,000
Total Asking Price: $460,000
*Approximately
Disclaimer:
Ray White has not independently checked any of the information we merely pass on. We make no comment on and give no warranty as to the accuracy of the information contained in this document which does not constitute all or any part of any offer or contract by the recipient. Prospective purchasers / lessees must rely on their own enquiries and should satisfy themselves as to the truth or accuracy of all information given by their own inspections, searches, inquiries, advices or as is otherwise necessary. No duty of care is assumed by Orchid Avenue Realty trading as Ray White Surfers Paradise Commercial divisions toward the recipient with regard to the use of this information and all information given is given without responsibility.
Business Summary
Business Snapshot
Price: SOLDNet Profit: $26,600Remuneration / Body Corp Salary: $26,600
Managers Unit
Value of Managers Apartment: $390,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: OtherPets OK: Yes
Complex Information
Complex Type: CaretakerTotal Units in Complex: 24Owner Occupy Units: 5Outside Agent Units: 19Agreement Term: 10 yearsAgreement Term Remaining: 9 years and 1 month years
1. Located between Gold Coast CBD and Brisbane CBD, providing a prime location for growth and potential.
2. Only 1 year old, the "Bella Monte" complex offers modern and well-maintained units.
3. The manager's unit on site is a large 3 bedroom, 2 bathroom with 2 car parks and a private courtyard with storage shed.
4. With 9 years remaining on caretaker and letting agreements, there is long-term stability and potential for growth.
5. The opportunity to convert 24 units into the letting pool provides a significant opportunity for increased income.
6. Low body corporate fees of $1,865 Admin Fund and $200 Sinking Fund per annum make this an attractive and affordable investment.
7. The flexibility to earn extra income offsite with a job or other business adds to the potential for increased profits.
8. Motivated sellers have instructed that all offers be considered, making this a great opportunity for buyers.
9. Priced to sell quickly, this opportunity may not be available for long.
10. The information provided has not been independently verified by Ray White, and buyers should conduct their own due diligence.
Management Rights Multiplier: 2.63
ROI Estimate: 5.78%
