Key Investment Insights
1. Prime location in a gated community in the Northern Beaches of Cairns, close to the beach, marina, shops, and golf course.
2. Spacious and stylish 2 bedroom / 2 bathroom manager's apartment with extensive open plan dining, huge balcony, and two car parks.
3. Well-managed business with excellent potential and easily run as a one person operation.
4. Top salary of $105,500 plus GST and excellent cash flow business.
5. Manager's unit rents at over $27,000 per annum.
6. Low vacancy rates in Cairns (less than 1%) and rental rates on the rise due to quality rental shortage.
7. Manager is not required to live onsite.
8. Agreements are Gallery Vie compliant.
9. Total of 52 units in the complex with 39 in the letting pool, 9 owner-occupied units, and 3 outside agent units.
10. Agreement module is accommodation with a term of 25 years and 25 years remaining.
11. Complex features a large lap pool, landscaped gardens, and fully secured property with basement parking.
12. Pets are allowed in the manager's unit.
13. Manager's apartment has a value of $450,000.
14. Potential for additional income through rental increases and managing more units in the complex.
Management Rights Multiplier: 4.29
ROI Estimate: 23.33%