Key Investment Insights
1. Prime location in sought after Northern Beaches of Cairns, only 15 minutes to the CBD.
2. Well-established business with a high percentage of furnished units.
3. Large and well-positioned site with extensive facilities.
4. Manager's villa with quality fittings, large office, and double lock-up garage.
5. No set office hours and no requirement for manager to reside onsite.
6. Mix of 6 and 12 month leases.
7. Low vacancy rates in Cairns, currently less than 1%.
8. Little impact from COVID-19 on the property.
9. Net profit of $350,000 and body corp salary of $154,440 with CPI increases.
10. Manager's apartment valued at $495,000 with 3 bedrooms and 2 bathrooms.
11. Complex has 111 units, with 95 in the letting pool and 11 owner-occupied units.
12. Agreement module is Accommodation with 20 years remaining on the 25-year term.
13. On-site amenities include a pool, gym, tennis court, BBQ area, pay TV, and WIFI.
Management Rights Multiplier: 4.64
ROI Estimate: 21.54%