Kewarra Beach, Queensland

Highly Awarded Permanent

$985,000

Business Description

Highly awarded permanent, in secure gated community at The Palms.
Top quality property with extensive resort style facilities on a large well positioned site in the sought after Northern Beaches surrounded by rainforest and the McAllister Ranges.
Tranquil Rainforest setting.
Large Resort Pool, Spa, Gazebos, Secure basement parking, BBQ areas, Tropical gardens.
Each building has a Lift to all levels.
This Permanent let property has a total of 84 x 1, 2, & 3 Bedroom Apartments.
A high percentage of the rental units are furnished.
It is only 25 minutes to the Cairns CBD. Close to JCU, Schools, Shops and Beaches.
Great managers two bedroom/two bathroom apartment with quality fittings, plus a good sized office.
No set office hours.
Top $100k incl. salary with CPI increases.
This is an excellent opportunity for an active semi retired couple to downsize home and business, or a younger couple new to the industry.
The incoming manager has the option of purchasing the current managers apartment or renting an apartment within the complex.
Cairns currently has one of the lowest vacancy rates in the country at less than 1% and rental rates are on the rise.

Contact Calvin for further details and a property inspection.

Business Summary

Business Snapshot

Price: $985,000 Net Profit: $89,555 Remuneration / Body Corp Salary: $89,655Business Value: $360,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $625,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Spacious, 151m2 two bedroom, two bathroom (ensuite) manager's apartment with office on title.

Complex Information

Complex Type: PermanentTotal Units in Complex: 84Total Units in Letting Pool: 8Owner Occupy Units: 68Outside Agent Units: 8Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 10 yearsPool: YesSpa: YesBBQ Area: Yes

Marketing Agent

Calvin Bailey

Calvin Bailey Management Rights

Key Investment Insights

1. Highly awarded permanent property in a secure gated community at The Palms.
2. Top quality property with extensive resort style facilities on a large well positioned site.
3. Tranquil rainforest setting surrounded by the McAllister Ranges.
4. Large resort pool, spa, gazebos, secure basement parking, BBQ areas, and tropical gardens.
5. Each building has a lift to all levels.
6. Total of 84 units, including 1, 2, and 3 bedroom apartments.
7. High percentage of rental units are furnished.
8. Only 25 minutes to the Cairns CBD and close to JCU, schools, shops, and beaches.
9. Great managers two bedroom/two bathroom apartment with quality fittings and a good sized office.
10. No set office hours.
11. Top $100k income including salary with CPI increases.
12. Excellent opportunity for an active semi-retired couple or a younger couple new to the industry.
13. Option to purchase or rent the current managers apartment within the complex.
14. Cairns has a low vacancy rate of less than 1% and rental rates are increasing.
15. Contact Calvin for further details and a property inspection.

Management Rights Multiplier: 4.02
ROI Estimate: 9.09%