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: 13Permanent Units: 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

1. Modern nine story apartment building with a great location, only a 5 minute walk to Westfield Garden City Shopping Centre and a 10 minute drive to Brisbane CBD.
2. Close proximity to Griffith University and Sunnybank Shopping & Entertainment Precinct, making it an attractive location for potential tenants.
3. Generous Body Corporate Salary with easily maintained common areas, providing a steady income for the manager.
4. No requirement for manager to live onsite, offering flexibility and convenience for the manager.
5. Manager's unit is new, with 2 bedrooms, 2 bathrooms, and 1 car space, making it a comfortable and modern living space.
6. Complex is a permanent type with a total of 52 units, with 13 units in the letting pool and 13 permanent units, providing a stable rental income.
7. Accommodation agreement module with a term of 25 years remaining, providing long-term security for the manager.
8. Onsite amenities such as a pool and pay TV, making it an attractive option for potential tenants.

Management Rights Multiplier: 4.50
ROI Estimate: 22.22%