Under Contract - Impressive Permanent on The Gold Coast - ID 8904

Key Investment Insights

1. 83‑apartment complex with 22 units in the letting pool, 47 owner‑occupied units, nine outside agent units, five lockup units, and one manager unit, indicating a diversified income mix and management responsibilities.
2. Net profit $298,000 against an asking price of $2,540,000 inclusive of the manager’s real estate, providing a stated return metric for valuation.
3. Body Corporate remuneration $194,661, indexed annually at CPI plus 2%, offering a sizeable, inflation‑protected recurring income stream.
4. Long‑term management agreements described as having substantial remaining terms; the marketing text states over 34 years remaining while the business snapshot records 24 years remaining, indicating long contract tenure but a discrepancy to clarify.
5. Caretaking agreement is partially supervisory, reducing hands‑on operational workload compared with full caretaking obligations.
6. Office attached and on title, using REI cloud‑based software, with no set office hours and no requirement to live onsite under current agreements, providing operational flexibility.
7. Manager’s residence is a high‑value 2 bedroom, 2 bathroom apartment valued at $975,000, with two undercover parking spaces, exclusive storage and premium fittings, included in the sale.
8. Mid‑rise building with lifts, pool, BBQ area and communal WiFi, enhancing resident amenity and appeal to tenants and owners.
9. Plenty of exclusive use storage and secure undercover parking for managers, supporting on‑site operations and asset utility.
10. Described as located in a sought after Gold Coast area close to major amenities, supporting demand for both permanent residents and rental

Management Rights Multiplier: 5.25
ROI Estimate: 11.73%