Redland Bay, Queensland

4 Year New Complex with Very Few Owner Occupied

$880,000

Business Description

• Rare to find. Quiet Bayside living with close proximity to all amenities.
• Long agreement. Just 4 year new complex.
• Close to ocean.
• Easy caretaking. No pool nor other facilities.
• Very few owner occupied.
• No set office hours.

Business Summary

Business Snapshot

Price: $880,000 Net Profit: $96,423 Remuneration / Body Corp Salary: $38,956

Managers Unit

Value of Managers Apartment: $430,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 31Total Units in Letting Pool: 27Owner Occupy Units: 2Outside Agent Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 22 years

Marketing Agent

Jodi Shore

0414 64....

Onsite Management Rights

Key Investment Insights

1. The complex is located in a quiet bayside area with close proximity to all amenities.
2. The complex is only 4 years old, making it a rare find.
3. The complex is close to the ocean, providing a desirable location for potential buyers.
4. The caretaking duties for the complex are easy, as there is no pool or other facilities to maintain.
5. The majority of units in the complex are rented out, with very few owner-occupied units.
6. There are no set office hours for the complex, providing flexibility for the managers.
7. The asking price for the complex is $880,000, with a net profit of $96,423 and a remuneration/body corp salary of $38,956.
8. The managers' apartment is valued at $430,000 and includes 3 bedrooms, 2 bathrooms, and 1 car space.
9. The complex is a permanent type with a total of 31 units, 27 of which are in the letting pool.
10. The complex has a long agreement term of 25 years, with 22 years remaining.

Management Rights Multiplier: 4.67
ROI Estimate: 21.43%