Key Investment Insights
Key Insights:
- Permanent complex with 21 units in the letting pool and 24 owner-occupied units
- Net profit of $140,729 with a good body corporate salary of $110,280
- Managers apartment is a large 1 bedroom that could be converted into a 2 bedroom with renovations
- No office hours required
- Potential to increase income by getting 13 outside units back into the letting pool
- Priced well and a good investment opportunity
- Complex is a must-see
- 25-year agreement with 15 years remaining
- Managers apartment valued at $370,000
- Located in a desirable area for families, making it a good option for a couple with children
- Good work-life balance for a couple managing the complex together
Management Rights Multiplier: 4.46
ROI Estimate: 22.41%
