Palm Beach, Queensland

High Net profit over $490K - Beachfront Holiday Resort Apartments in Palm Beach

$3,546,000

Business Description

• Stunning beachfront high rise apartment, rooms with ocean view
• Local tourism is booming, high potentials to increase net profit.
• Supervisory agreement for caretaking duties- The manager only needs to supervise contractors to work and report to BC
• Well established systems in place with long term staff / contractors provide stability
• Consistent high performer; Always fully booked, Happy return guests.
• Large separate office / reception area on title
• No set office hours
• Not required to live onsite
• Central to all attractions, shopping precincts and restaurants

Business Summary

Business Snapshot

Price: $3,546,000 Net Profit: $490,202 Remuneration / Body Corp Salary: $73,771Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $850,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: On Title

Complex Information

Complex Type: HolidayTotal Units in Complex: 78Total Units in Letting Pool: 31Holiday Units: 31Agreement Term: 25 yearsAgreement Term Remaining: 19 yearsPool: YesSauna: YesGym: YesTennis Court: YesBBQ Area: Yes

Marketing Agent

CeCe Chen

0450 45....

Greg Yang

0430 24....

Onsite Management Rights

Key Investment Insights

1. Stunning beachfront high rise apartment with ocean views
2. Local tourism is booming, providing potential for increased net profit
3. Supervisory agreement for caretaking duties allows for a hands-off management approach
4. Well-established systems in place with long-term staff and contractors provide stability
5. Consistent high performer with high occupancy rates and happy return guests
6. Large separate office/reception area included on title
7. No set office hours and not required to live on site
8. Central location near attractions, shopping, and restaurants
9. Net profit of over $490,000
10. Managers unit valued at $850,000
11. Complex consists of 78 units with 31 units in the letting pool
12. Agreement term remaining for 19 years
13. On-site amenities include a pool, sauna, gym, tennis court, and BBQ area.

Management Rights Multiplier: 5.50
ROI Estimate: 18.18%