Toowong, Queensland

Great Complex in the Heart of Toowong

SOLD

Business Description

Fantastic complex nestled away in the Toowong shopping precinct and on the bus/train transport system to the City. The mix of 2 & 3 bedroom apartments is popular with overseas and local university students. Well appointed, spacious Manager's apartment with office $585,000. Netting $157,000. Management Rights $785,000, TOTAL $1,370,000 but not yet at full income potential with plenty of scope to increase. Phone Robert Collins Exclusive Agent on ---------- or ----------

Business Summary

Business Snapshot

Price: SOLD Net Profit: $157,000 Remuneration / Body Corp Salary: $86,430

Managers Unit

Value of Managers Apartment: $585,000Bedrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 50Total Units in Letting Pool: 34Owner Occupy Units: 14Agreement Term Remaining: 18 years
Marketing Agent
Robert Collins
Robert Collins

Key Investment Insights

Key Insights:

1. Prime location in the heart of Toowong, with easy access to public transport and shopping precinct.

2. Mix of 2 and 3 bedroom apartments is popular with both overseas and local university students.

3. Well-appointed and spacious Manager's apartment with office included in the sale.

4. Netting a solid profit of $157,000, with potential for further growth.

5. Management rights priced at $785,000, with a total sale price of $1,370,000.

6. Plenty of scope to increase income potential and further improve profitability.

7. Manager's unit valued at $585,000, with 2 bedrooms.

8. Complex type is permanent, with a total of 50 units and 34 units in the letting pool.

9. 14 units are owner-occupied, providing a stable and diverse tenant mix.

10. Agreement term remaining is 18 years, providing long-term security for the new owner.

Management Rights Multiplier: 5.00
ROI Estimate: 20.00%

Listing location
Gallery

This Business is sold

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