Wulkuraka, Queensland

Brisbane West - 5 Year Old Permanent Complex $165k Net

$1,550,000

Business Description

As new 57 lot Townhouse complex, All 3 Bed, 2.5 Bath, 2 car 2 level town-homes or
stand alone Villas. Top Quality Finishes, including ducted air-conditioning, vacuum system and security alarm. The complex is located right next door to
the Wulkuraka Train Station, and future shopping complex. Waiting list for tenants.

Agreements period : 25 years
Agreement period remaining: 24 years
Body corporate remuneration: $67,722
Body corp remuneration review: 3% or cpi which ever higher annually
Total Lots in complex: 57
Lots in rental pool: 42
Permanent rent range: $430 - $490 pwk
Office hours: nil
Managers house: 3 bed 2.5 bath 2 car standalone villa
Separate managers office including office & Storage area. 12m2 + 2 car parks & Yard
Live onsite: no requirement to live onsite
Managers house not locked into business and can be sold separately anytime.

Very nice complex, no gates, no pool, no gym, very easy to look after.

NOP: $165,000.00
Managers Real Estate: $550,000.00
Business: $1,000,000.00
Total Price: $1,550,000.00

Business Summary

Business Snapshot

Price: $1,550,000 Net Profit: $165,000 Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $550,000Bedrooms: 3Bathrooms: 3Car Spaces: 4Office: Exclusive Use

3 Bed, 2.5 Bath, 2 car 175m2 lowset stand alone Villa.

Complex Information

Complex Type: PermanentTotal Units in Complex: 57Total Units in Letting Pool: 49Permanent Units: 49Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 years

Marketing Agent

Adam Rizzo

BrisbaneProperties.com.au

Key Investment Insights

1. 5-year-old permanent complex with 57 townhouse units, all 3 bedrooms and 2.5 bathrooms with top quality finishes.
2. Located next to Wulkuraka Train Station and future shopping complex.
3. Waiting list for tenants.
4. Agreements period of 25 years with 24 years remaining.
5. Body corporate remuneration of $67,722 with annual review of 3% or CPI, whichever is higher.
6. 42 units in the rental pool with a rent range of $430-$490 per week.
7. No office hours required and no requirement for managers to live on-site.
8. Managers house is a 3-bedroom, 2.5-bathroom standalone villa with separate office and storage area.
9. Managers house not locked into business and can be sold separately at any time.
10. Complex has no gates, pool, or gym, making it easy to manage.
11. Net operating profit of $165,000.
12. Managers real estate valued at $550,000.
13. Total price for business and managers unit is $1,550,000.

Management Rights Multiplier: 6.06
ROI Estimate: 16.50%