Key Investment Insights
AI generated. Confirm details with the seller.
1. Price $3,158,000, structured as $2.058M management rights and $1.1M manager’s apartment, offering transparent asset split.
2. Net profit $363,525, delivering a strong yield of 11.5% for the listed price.
3. Net operating profit split $351,549 from core letting and $11,976 from external letting, indicating primary reliance on core income.
4. Body Corporate salary (remuneration) $248,898, with a scheduled final 5% increase in late 2025 before reverting to CPI indexing.
5. Core income valued at a 5.77x multiplier, external letting at 2.5x, blended multiplier 5.66x, showing valuation metrics and income composition.
6. Long-term agreements in place to 2045 and 2046, with an overall agreement term of 25 years and approximately 21 years remaining, providing security of tenure.
7. Manager’s residence is a large 203m2 ground-level apartment, two bedrooms, two bathrooms, two tandem basement car parks with one lock-up and direct street access, recently professionally valued at $1.1M.
8. Operationally low complexity, run by a sole on-site operator supported by a weekday cleaner and periodic gardening contractor, with equipment and pond maintenance funded by the Body Corporate.
9. Scaled complex with 98 total units, 38 in the letting pool, 53 owner-occupied units and 9 outside-agent units, indicating stable owner-occupier base and letting scale.
10. Prime Teneriffe location, close to the river, dining, transport and employment hubs, with consistently strong demand in an established residential precinct.
11. Trophy asset status in a tightly held market, seldom offered to market, suggesting scarcity value and potential capital resilience.
12. Experienced, supportive committees with a consistent history of top-ups, indicating cooperative governance and predictable Body Corporate support.
Management Rights Multiplier: 5.66
ROI Estimate: 11.51%
