Key Investment Insights
AI generated. Confirm details with the seller.
1. Permanent complex advertised with clear redevelopment potential, buyer premium already incorporated due to active discussions with a property development company.
2. Net profit reported at $75,000, with additional remuneration or body corporate salary of $55,000.
3. Managers apartment valued at $950,000, comprising 2 bedrooms, 1 car space, and a listed bathroom count that varies in the material.
4. Onsite manager required to reside in the provided unit, with no fixed caretaking hours stipulated.
5. Manager’s ground floor unit offers direct pool access via a patio and entertaining area, plus a fully equipped kitchen and separate laundry; secure underground parking is provided.
6. Complex size is 33 units, with 19 units in the letting pool, indicating a significant portion under management.
7. Letting agreements are standard module, originally 10 year terms with six years remaining, implying medium term income stability.
8. Property includes a pool and is a three storey walk up, suggesting limited lift infrastructure and potential refurbishment needs.
9. Prime coastal location, a short stroll to the beach and within walking distance to Main Beach, Southport Yacht and Surf Clubs.
10. Strong nearby amenity access, a short drive to Marina Mirage, The Sheraton Mirage, Palazzo Versace and SeaWorld, enhancing tourism and letting appeal.
11. Close driving proximity to prominent public and private schools including TSS and St Hilda’s, supporting year round residential and rental demand.
