Morningside, Queensland

Easy Caretaking in Morningside - Perfect for Semi-retired or First Time Manager

Offer from $1,100,000

Property Description

• Motivated Vendor, keen to sell. Has been in position for 6 years, and has a good relationship with the Body Corporate and owners.
• Very manageable caretaking, perfect for one operator, semi-retired or first time manager
• Low multiplier on business price
• Long agreement, 23 years remaining
• Stable income, 70% of the net income from the body corporate salary
• Neat and well established complex
• Quiet yet central to everything. Walk to shops and train stations. Easy access to the Gateway Motorway. Short drive to Bulimba City Cat.
• High rental demand, with growth potentials to pick up more lettings and property sales
• Large standalone manager house with 2 independent garages

Property Summary

Business Snapshot

Price: Offer from $1,100,000 Net Profit: $96,969 Remuneration / Body Corp Salary: $68,158Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $800,000Bedrooms: 3Bathrooms: 3Car Spaces: 4Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 13Permanent Units: 13Agreement Module: StandardAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: Yes
Marketing Agent
CeCe Chen
CeCe Chen

Jodi Shore
Jodi Shore

Onsite Management Rights

Onsite Management Rights

Listing location
Gallery

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