Surfers Paradise, Queensland

On the Water. Great Value!

SOLD

Business Description

3 Storey Walk up complex right on the river in the heart of Surfers Paradise. A comfortable and modern managers apartment with office on title.

Easily managed gardens and no set office hours ensure you have a great work life balance with this business.

Just a ten minute walk to Cavill Avenue and Surfers Paradise Beach.

A solid Body Corporate salary coupled with a smoothly run holiday letting business represents a wonderful opportunity for a smart business operator.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $108,000 Remuneration / Body Corp Salary: $51,000Business Value: $351,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $399,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Large Apartment, Great Lifestyle Choice

Complex Information

Complex Type: HolidayTotal Units in Complex: 35Total Units in Letting Pool: 17Owner Occupy Units: 12Outside Agent Units: 5Lockup Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 20 yearsAgreement Term Remaining: 18 yearsPool: YesSpa: YesBBQ Area: YesPay TV: YesWIFI: YesFunction Facilities: YesMarina Berth: Yes

Other Features / Notes

Heated Pool, Spa, BBQ, Riverside Jetty, Secure Underground Parking

Marketing Agent

Jenny Zheng

Property Bridge

Key Investment Insights

1. Prime location in the heart of Surfers Paradise, right on the river.
2. Three storey walk-up complex with a modern and comfortable manager's apartment.
3. Easily managed gardens and no set office hours for a great work-life balance.
4. Only a ten minute walk to Cavill Avenue and Surfers Paradise Beach.
5. Solid Body Corporate salary and smoothly run holiday letting business.
6. Opportunity for a smart business operator to capitalize on the business.
7. Net profit of $108,000 and remuneration/Body Corp salary of $51,000.
8. Annual CPI salary review.
9. Manager's apartment valued at $399,000 with 3 bedrooms, 2 bathrooms, and an office on title.
10. Pet-friendly complex.
11. Complex type is holiday with a total of 35 units, 17 in the letting pool, and 12 owner-occupied units.
12. Agreement module is accommodation with a term of 20 years and 18 years remaining.
13. Amenities include a heated pool, spa, BBQ area, pay TV, WIFI, function facilities, and a marina berth.

Management Rights Multiplier: 3.25
ROI Estimate: 14.40%