Time to Retire - Owner says Sell !
Great location and not too big! Just right for the newcomer to Management Rights.
This building is a combination of apartments and townhouses. Located in Ascot and only a two minute drive from the popular cafe areas of racecourse road and Hamilton portside.
Established modern, inner city permanent complex.
With only 35 units in the complex the body corporate salary of $59,383 is very generous especially when you consider there is only about 20 hours of caretaking per week.
There are no set office hours.
The office is located away from the manager's unit and is exclusive use.
Almost all the income comes from the core stream of body corporate salary and letting commissions.
There is good scope for new management to build the bottom line as the new building next door has also become a solid income stream.
The relationship with the committee is good, with the current manager given a good amount of autonomy to do their job.
The caretaking and letting agreements currently sit at 20 years, providing excellent security.
Gallery Vie updated done.
Handy to bus, rail and city cat.
Close access to M1, Airport, DFO, Goldcoast & Sunshine Coast.
Five minute walk to the new Woolworths Village & shopping complex.
We simply cannot think of anything negative to say about this property.
All the hard work is done, painting, compliance etc.
An ideal management rights for someone wanting to semi-retire or for the new entrant to the MR industry!!
Price: Price Guide $950,000
Net Profit: $118,848 Remuneration / Body Corp Salary: $59,383
Managers UnitValue of Managers Apartment: $450,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: Exclusive Use
The office is located away from the manager's unit and is exclusive use
Complex InformationComplex Type: PermanentTotal Units in Complex: 35Agreement Term: 25 yearsAgreement Term Remaining: 20 years