Upper Mount Gravatt, Queensland

Off the Plan Permanent – No Requirement to Live Onsite

SOLD

Business Description

Modern nine story apartment building. Great location.
5 minute walk to Westfield Garden City Shopping Centre
5 minute drive to Griffith University and Sunnybank Shopping & Entertainment Precinct
10 minute drive to Brisbane CBD

Generous Body Corporate Salary with easily maintained common areas.
No requirement for manager to live onsite

Business Summary

Business Snapshot

Price: SOLD Net Profit: $109,300 Remuneration / Body Corp Salary: $64,000Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $476,800Bedrooms: 2Bathrooms: 2Car Spaces: 1Pets OK: Yes

New, 2 Bedroom, 2 Bathroom, 1 Car

Complex Information

Complex Type: PermanentTotal Units in Complex: 52Total Units in Letting Pool: 13Owner Occupy Units: 33Outside Agent Units: 5Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 25 yearsPool: YesPay TV: Yes

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

Key Insights:
- Modern nine story apartment building with a great location
- Short walking distance to Westfield Garden City Shopping Centre
- Close proximity to Griffith University and Sunnybank Shopping & Entertainment Precinct
- Easy access to Brisbane CBD
- Generous Body Corporate Salary with easily maintained common areas
- No requirement for manager to live onsite
- Managers unit is a new, 2 bedroom, 2 bathroom, 1 car apartment
- Complex is a permanent type with 52 total units and 13 in the letting pool
- Majority of units are owner-occupied
- Agreement module is Accommodation with a term of 25 years remaining
- Complex amenities include a pool and pay TV.

Management Rights Multiplier: 4.50
ROI Estimate: 22.22%