Malvern East, Victoria

SERVICED APARTMENT HOTEL - FIRST TIME TO MARKET - NETTING $1.2M | Resort Brokers ID : MR008304

$6,450,350

Business Description

ResortBrokers presents to market this outstanding 4.5 star serviced apartment building in a hot location of Melbourne. Boasting a net in excess of $1.2m with lots of upside potential to be explored, this superior management rights business will be highly coveted by experienced operators.

- Incredible opportunity to grow the short-term letting pool from 98 with potential up to 150
- Contemporary single tower high-rise with over 325 apartments
- OC salary of $577,280 p.a. with December CPI renewal representing 46% of net income
- Offering 1, 2 and 3 bed apartments
- Quality amenities include large outdoor terrace, spa, sauna, gym & dining room
- Desirable locationattracting strong and consistent occupancy
- Long tenure remaining on 25 year Caretaking and Letting Agreements
- Verified net profit by specialist industry accountant of $1,217,047 p.a.
- Extensive operational spaces with reception, back office & storage areas
- 20mins to CBD, close to local restaurants, bars and major sports facilities
- All inspections by appointment only



Date updated: 01 Dec 2024 22:00:06

Business Summary