Surfers Paradise, Queensland

Permanent management rights, Surfers Paradise QLD

$2,150,000

Business Description

Exclusive permanent residential only complex situated between Surfers Paradise and Broadbeach.

Full resort facilities including tennis court, theatre room, gym, spa, sauna, heated pool and a private marina. Manageable duties for one person complimented with a supportive committee.

Beautifully renovated managers unit with 2 bed & 2 bath unit, along with 2 car spaces exclusive use storage areas and even a marina berth.

Current net income of $202,696 not including unit sales of over $80,000 p/a on average over the last three years. With 11 units in the rental pool all with great long-term renters making for a light well rewarded workload.

Business Summary

Business Snapshot

Price: $2,150,000 Net Profit: $202,696 Remuneration / Body Corp Salary: $152,912

Managers Unit

Value of Managers Apartment: $1,100,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Pets OK: Yes

Beautifully renovated managers unit with 2 bed 2 bath unit with 2 car spaces exclusive use storage areas and even a marina berth

Complex Information

Complex Type: PermanentTotal Units in Complex: 76Total Units in Letting Pool: 11Owner Occupy Units: 55Lockup Units: 10Agreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesSpa: YesSauna: YesGym: YesTennis Court: YesMarina Berth: Yes

Marketing Agent

Shaye Newman

0423 29....

Momentum Renovations Pty Ltd

Key Investment Insights

1. Exclusive permanent residential only complex situated between Surfers Paradise and Broadbeach.
2. Full resort facilities including tennis court, theatre room, gym, spa, sauna, heated pool and a private marina.
3. Manageable duties for one person complimented with a supportive committee.
4. Beautifully renovated managers unit with 2 bed & 2 bath unit, along with 2 car spaces exclusive use storage areas and even a marina berth.
5. Current net income of $202,696 not including unit sales of over $80,000 p/a on average over the last three years.
6. 11 units in the rental pool all with great long-term renters making for a light well rewarded workload.
7. Price: $2,150,000
8. Net Profit: $202,696
9. Remuneration / Body Corp Salary: $152,912
10. Value of Managers Apartment: $1,100,000
11. Bedrooms: 2
12. Bathrooms: 2
13. Car Spaces: 2
14. Pets OK: Yes
15. Complex Type: Permanent
16. Total Units in Complex: 76
17. Total Units in Letting Pool: 11
18. Owner Occupy Units: 55
19. Lockup Units: 10
20. Agreement Term: 25 years
21. Agreement Term Remaining: 24 years
22. Pool: Yes
23. Spa: Yes
24. Sauna: Yes
25. Gym: Yes
26. Tennis Court: Yes
27. Marina Berth: Yes

Management Rights Multiplier: 5.18
ROI Estimate: 19.30%