South Brisbane, Queensland

BOUTIQUE SHORT-STAY MR IN PRIME SOUTH BRISBANE LOCATION | Resort Brokers ID : MRB008454

Under Contract / Offer

Business Description

ResortBrokers brings exclusively to market the mixed-use management and letting rights complex of ‘Vine Apartments in South Brisbane’. This modern 9 level building is netting close to $500K, and is a rare ‘business only’ offering with no real estate to purchase and no requirement to live on-site. With numerous permanent letting to convert to short-stay, and lots of externally managed units, there is a huge amount of potential upside.

- Verified net profit of $491,401 per annum
- Total of 56 apartments and 1 retail lot in building
- 34 units in letting pool, with 18 short-term and 16 permanent letting appointments
- Managers office and reception under Occupational Authority
- 9 externally managed units to win-back
- Body corporate salary of $122,500 per annum
- Single BC scheme governing complex
- Easily run by two person managment team with contract cleaners
- No requirement to live on-site and no real estate to buy
- Superbly located close to all the amenities in South Bank and South Brisbane
- All inspections by appointment only

Date updated: 01 Dec 2024 22:00:07

Business Summary