Teneriffe, Queensland

SUPERBLY RUN TENERIFFE MANAGEMENT RIGHT WITH HIGH NET $400K | Resort Brokers ID : MR006955

$2.385M BUS + $1.39M

Property Description

Ellington Apartments comprises a series of three low-rise, exceptionally well-maintained apartment buildings located in a leafy garden setting just a few moments to the river. Situated in vibrant Teneriffe this complex offers the incoming managers the perfect work to lifestyle balance.



  • 189 apartment complex, 69 in letting pool

  • Excellent BC salary over $270,000

  • Clean P&L – 99% of income from core streams

  • Good upside potential through R&M and internet

  • Freehold title 27SQM manger's office with street frontage

  • Stunning & spacious 3 bedroom manager's apartment

  • High quality property with excellent facilities

  • Prime location moments from river in Tenerife

  • Subsidiary agreements have 22 years to run

  • Minimal office hours, manageable workload

Date updated: 05 Dec 2021 22:00:11

Property Summary

Business Snapshot

Price: $2.385M BUS + $1.39M Net Profit: $404,374 Remuneration / Body Corp Salary: $271,245

Managers Unit

Value of Managers Apartment: $1,390,000Bedrooms: 3Bathrooms: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 189Total Units in Letting Pool: 67Holiday Units: 67Owner Occupy Units: 96Outside Agent Units: 26Agreement Term Remaining: 22 years
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