North Ward, Queensland

Immaculately Presented Permanent - Townsville - ID 9049

$1,350,000

Business Description

North Queensland Management Rights

North Ward - Townsville

- Permanent management rights complex

- 93 apartments over 5 towers

- 14 apartments in the letting pool, 3 outside agents and 75 owner occupiers

- Body Corporate salary of $162,631

- Accommodation Module agreement with 20 years remaining

- Average rents in excess of $550 per week

- Cloud administration system - Console Cloud

- Generous 2-bedroom manager's residence

- Additional studio apartment

- Pet permitted with Body Corporate approval

- Large real estate sales revenue stream

- Opportunity to earn significant sales commission and potential for extra income.

This permanent management rights complex has undergone a number of maintenance and improvement projects in the last 12 months. Easily managed by an active two-person team.

Net Profit: $187,000

Asking Price: $1,350,000

(Inclusive of manager's real estate)

For further information or to arrange an inspection of the North Queensland Management Rights business contact:

Management Rights Broker

Antonio Curulli

Property Code: 535

Business Summary

Business Snapshot

Price: $1,350,000 Net Profit: $187,000 Remuneration / Body Corp Salary: $159,108

Managers Unit

Value of Managers Apartment: $625,000Bedrooms: 3Bathrooms: 3Car Spaces: 2Pets OK: Yes
2 bedroom apartment, 2 bathrooms, balcony overlooking the Coral Sea, also included is a studio apartment which features a bedroom, ensuite and kitchenette, plenty of storage and private balcony

Complex Information

Complex Type: PermanentTotal Units in Complex: 93Total Units in Letting Pool: 14Owner Occupy Units: 74Outside Agent Units: 3Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesSpa: YesGym: YesBBQ Area: YesPay TV: YesWIFI: Yes
Marketing Agent
Antonio Curulli
Antonio Curulli

Key Investment Insights

1. Permanent management rights complex with 93 apartments over 5 towers.
2. 14 apartments in the letting pool, 3 outside agents, and 75 owner occupiers.
3. Body Corporate salary of $162,631.
4. Accommodation Module agreement with 20 years remaining.
5. Average rents in excess of $550 per week.
6. Cloud administration system - Console Cloud.
7. Generous 2-bedroom manager's residence.
8. Additional studio apartment.
9. Pet permitted with Body Corporate approval.
10. Large real estate sales revenue stream.
11. Opportunity to earn significant sales commission and potential for extra income.
12. Undergone maintenance and improvement projects in the last 12 months.
13. Easily managed by an active two-person team.
14. Net Profit of $187,000.
15. Asking Price of $1,350,000 (inclusive of manager's real estate).
16. Managers unit includes a 2 bedroom apartment, 2 bathrooms, balcony overlooking the Coral Sea, and a studio apartment with a bedroom, ensuite, kitchenette, and private balcony.
17. Complex type is permanent with a total of 93 units, 14 in the letting pool, and 74 owner occupiers.
18. Agreement Module is Accommodation with 25 years term and 20 years remaining.
19. Complex amenities include a pool, spa, gym, BBQ area, pay TV, and WIFI.

Management Rights Multiplier: 3.88
ROI Estimate: 25.79%

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