South Townsville, Queensland

Prestigious Permanent MR business in a very popular precinct with solid income | Resort Brokers ID : MR007868

$1,200,000

Business Description

Situated in the well-sought-after location of Palmer Street known as the city's south bank, this is a modern permanent lifestyle business with easy caretaking duties.

With 13 units in the letting pool and no set office hours in place, there is additional upside on offer with the inclusion of extra rentals currently being managed in the adjacent building.

Perfectly set up for first-time operators and a location that is hard to beat. This is an excellent permanent letting business, and inspection is a must.

- Strong net profit
- Sought-after location with water views
- Easily managed complex with systems in place for smooth transition
- Spacious 2-bedroom manager’s residence
- Opportunity to increase the income/rental pool
- Very comfortably managed by husband and wife
- Property inspections are by appointment only
Date updated: 07 Apr 2024 23:00:14

Business Summary

Business Snapshot

Price: $1,200,000 Net Profit: $198,215 Remuneration / Body Corp Salary: $140,772

Managers Unit

Value of Managers Apartment: $510,000Bedrooms: 2Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 73Total Units in Letting Pool: 13Owner Occupy Units: 38Outside Agent Units: 7Agreement Term Remaining: 17 years
Marketing Agent
Listing location

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