Morningside, Queensland

Down Town Morningside

Under Contract / Offer

Property Description

The current caretaker has been in position for almost 6 years and enjoys a very positive relationship with the Body Corporate, the Committee and Owners alike. Rental demand is always high for the complex and vacancies are easily filled when they arise as the owners maintain their properties to a high standard. There is 24 years to run on the 25 year agreement, with this being topped up a the last AGM in 2020. There are currently both gardening and pool maintenance contractors in place. You can continue with these service providers or take over and complete these duties yourself. Current caretaker salary is $73,705 with the next CPI increase due in June 2021. This complex requires the caretaker to reside in the assigned lot and adhere to the office hours which are Monday to Friday 830am 5pm and Saturday 830am 1130am. The current caretaker uses Property Me Software and all tenants pay by direct deposit. Office related duties take approx. 1 hour per day. As this is a relatively small complex, there are very few committee meetings to attend, approx. 4 per year.

Income $95,000
Unit $669,000
Business $430,000
Total $1,099,000

Please contact Robert Collins Exclusive Agent on ---------- or ----------

Property Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $95,000 Remuneration / Body Corp Salary: $67,003

Managers Unit

Value of Managers Apartment: $669,000Bedrooms: 3

Complex Information

Complex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 14Holiday Units: 14Owner Occupy Units: 23Agreement Term Remaining: 24 years years
Marketing Agent
Robert Collins
Robert Collins

Listing location
Gallery

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