Southport, Queensland
BOUTIQUE, LOW MAINTENANCE COMPLEX
SOLD
Business Description
Earning $97K per year, this delightful easy to run permanent complex is currently being run by one person and is situated in the heart of one of the highest demand suburbs in Australia. With easy access to all that the Gold Coast has to offer, Broad water parklands, boat ramps, restaurants, and road access north or south it receives strong tenant interest whenever an apartment comes up.
With an entertainment deck incl. BBQ & Pool, secure off street undercover parking, landscape gardens designed for easy maintenance plus a recent coat of paint throughout this property presents beautifully.
The current manager lives off site so scope for additional income exists through renting out the 2 bed 1 bath 2 carpark managers unit. The letting pool consists of 26 units inclusive of 7 units in the complex adjoining with 9 outside agents , so this adds scope for further income growth.
The BC working relationship is excellent and the Accommodation Agreement (25 years) has 22 years remaining. With a dedicated office space onsite there is not much else you could ask for.
Call Kerrie Lush ----------
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Business Summary
Business Snapshot
Price: SOLD
Net Profit: $97,000 Remuneration / Body Corp Salary: $43,200
Managers Unit
Bedrooms: 2Bathrooms: 1Car Spaces: 2Complex Information
Complex Type: PermanentTotal Units in Complex: 34Total Units in Letting Pool: 26Outside Agent Units: 9Agreement Term: 25 yearsAgreement Term Remaining: 22 years
Key Investment Insights
1. Highly profitable boutique complex located in a high demand suburb on the Gold Coast.
2. Easy to run with low maintenance requirements.
3. Strong tenant interest and high occupancy rates.
4. Entertainment deck with BBQ and pool, secure off-street parking, and landscaped gardens.
5. Potential for additional income through renting out the manager's unit.
6. Excellent working relationship with the body corporate.
7. Long-term accommodation agreement with 22 years remaining.
8. Dedicated office space onsite.
9. Includes 26 units in the letting pool and potential for growth with 9 outside agent units.
10. Manager currently lives off-site, providing flexibility for the new owner.
11. Strong net profit of $97,000 per year.
12. Remuneration/body corporate salary of $43,200.
13. Managers unit includes 2 bedrooms, 1 bathroom, and 2 car spaces.
14. Permanent complex type with a total of 34 units.
15. Ideal opportunity for an owner-operator or couple looking for a profitable and low maintenance business.
