Key Investment Insights
1. The complex is located in a prime investment area in Varsity Lakes on the Gold Coast, Queensland.
2. The complex is easy to manage and can be efficiently overseen by a single individual.
3. Investors have flexible living options, with the choice to live off-site and lease the manager's unit or reside on-site in a brand-new, spacious apartment.
4. The complex enjoys strong financial performance, with a body corporate salary exceeding $136,000 annually and a net income of over $246,000.
5. The complex consists of 92 units, with 33 currently in the letting pool and three more expected to return after restoration from fire damage.
6. Residents have access to premium amenities, including a pool, BBQ area, and gym.
7. The management rights agreement spans 25 years, with 21 years remaining, providing long-term security.
8. The property is designed for low maintenance, reducing gardening responsibilities.
9. The on-site manager's apartment is undergoing a complete rebuild following a fire in 2022, ensuring a modern and high-quality living space upon completion.
10. The total investment for the manager's apartment and management rights business is $2,150,000.
11. The complex presents an outstanding opportunity for investors due to its strategic location, low-maintenance setup, and strong financial returns.
Management Rights Multiplier: 4.84
ROI Estimate: 20.64%