Key Investment Insights
1. 38‑unit gated estate in Southport, described as prime location with secure, quiet manager’s residence.
2. Long‑standing managers selling after 10 years, vendor retiring, suggesting smooth handover and stable operations.
3. 12 units in the letting pool, providing an easy to manage short‑term rental component.
4. Accommodation agreement is Accommodation Module with a 25‑year term and 23 years remaining, offering long‑term income security.
5. Net profit $77,456, with asking price $795,000 inclusive of the manager’s real estate.
6. Body Corporate remuneration approximately $67,000 to $67,641, representing a significant recurring income stream.
7. No office and no office hours required, indicating low overheads and minimal on‑site administration.
8. Trust accounting handled via Caretaker software, implying established financial systems are in place.
9. Average letting rents of $350–$420 per week, providing transparent revenue expectations.
10. Manager’s 2 bed, 2 bath apartment valued at $575,000, includes one car space, storage, air‑conditioning, and a large private outdoor area.
11. Majority of complex are owner‑occupied with 22 owner‑occupy units and only 3 outside agent listings, indicating residential stability and lower turnover.
12. Limited onsite facilities, small pool and BBQ area, aligning with easy‑manage profile suitable for semi‑retired or first‑time operators.
Management Rights Multiplier: 2.84
ROI Estimate: 35.21%
