Key Investment Insights
1. Asking price: serious offers above $715,000, vendor selling due to ill health.
2. Net profit $115,680, indicating strong cashflow for the rights.
3. Body Corporate salary/remuneration $58,556.60 inclusive of GST, providing steady guaranteed income.
4. Managers apartment valued at $590,000, expansive absolute beachfront three-bedroom fully refurbished residence with two bathrooms, single garage and direct pool access.
5. Office on title, supporting on-site management and real estate operations.
6. 11 of 18 units are in the letting pool, offering immediate revenue-generating stock; six owner-occupied units reduce turnover risk.
7. Agreements recently topped up to 25 years with approximately 20 years remaining, creating long-term stability.
8. Large sinking fund of $115,000, enabling further capital works and reducing near-term levy risk.
9. Resort-style amenities include a well maintained pool, BBQ area, Wi-Fi and cable TV, enhancing letting appeal.
10. Extensive refurbishment of apartments and managers residence, positioning the property to reap higher letting returns.
11. Supportive committee and happy owners, indicating positive stakeholder relationships and lower conflict risk.
12. Prime location 500 metres from shopping and medical services, and a 15-minute drive to the international airport, with Coral Sea views enhancing long-term residential and tourist appeal.
Management Rights Multiplier: 1.08
ROI Estimate: 16.18%
