Impressive Permanent on The Gold Coast - ID 8904

Key Investment Insights

1. Asking price $2,540,000 inclusive of manager's real estate, net profit $298,000, indicating a clear profit figure for valuation comparisons.
2. Body Corporate remuneration $194,661 with CPI plus 2% annual adjustments, providing predictable indexed income.
3. Long-term agreements in place, description states over 34 years remaining while snapshot shows 24 years remaining, signalling extended contract security but inconsistent documentation to clarify.
4. Complex comprises 83 apartments with 22 in the letting pool, 47 owner-occupy units, 9 outside agent units and 5 lockup units, demonstrating a diversified occupancy mix.
5. Caretaking agreement is partially supervisory, indicating lower hands-on caretaking duties and potential for scalable management.
6. Office attached and on title, using REI cloud-based software, streamlining operations and providing owner control of on-site facilities.
7. No set office hours and no requirement to live onsite in agreements, offering operational flexibility for managers.
8. Manager's residence is a high-value 2 bedroom, 2 bathroom apartment on title valued at $975,000, with 2 undercover car spaces and exclusive use storage, enhancing owner accommodation value.
9. Mid-rise building with lifts, pool, BBQ area and WiFi, supporting resident amenity appeal and rental attractiveness.
10. Plenty of exclusive-use storage and an excellent Body Corporate and committee, suggesting strong on-site infrastructure and governance.
11. Location described as sought-after on the Gold Coast and close to local attractions, implying strong long-term demand and tourism support.
12. Office and manager's apartment on title combined with included real estate business simplifies transaction structure and ownership transfer.

Management Rights Multiplier: 5.25
ROI Estimate: 19.04%