Key Investment Insights
1. Great location close to the Broadwater, with easy access to dining, entertainment, and walking trails.
2. Central location in Labrador, providing easy access to major shopping, education, and tourist hotspots on the coast.
3. Low maintenance complex with only 28 units and a letting pool of 8, making it easy to manage.
4. Opportunity to increase net yearly income with 10 outside agents.
5. Comfortable 2 bed 1 bath manager's unit with a private courtyard.
6. Flexible work hours, with the manager only needing to be contactable during business hours.
7. Ample storage space in the existing "on title" office and separate storage and workspaces in the secure basement.
8. Secure complex with front gate entry and underground parking for all units.
9. Strong working relationship with the body corporate and long-term tenants.
10. Permanent complex type with a 25-year agreement term and 23 years remaining.
11. Attractive business snapshot with a price of $670,000, net profit of $49,657, and remuneration/body corp salary of $42,945.
12. Manager's apartment valued at $498,000 with 2 bedrooms, 1 bathroom, and 1 car space.
13. Total of 28 units in the complex, with 8 units in the letting pool, 8 holiday units, 10 owner-occupied units, and 10 outside agent units.
Management Rights Multiplier: 3.46
ROI Estimate: 28.87%