Banora Point, New South Wales

$885,000

Property Description

Great lifestyle - Great Location! - Great income

A well presented and attractive complex of fifty four town houses is situated in the heart of Banora Point. close to excellent schools, shopping, clubs and bus. It comes with a tastefully renovated three bedroom town house with timber floors, tiled bathrooms, stainless steel appliances and covered outdoor living area. It has a fully enclosed rear garden and is pet friendly. In return for gardening duties with flexible hours and the management of 17 permanent rental properties it provides an income of $100,000 per year. All this for only $885,000!
Current Managers are earning extra income (10K) with doing works outside complex and this is not on the P and L but is in place for new Managers.
Repairs and Maintenance income is an extra 10K a year and is NOT in the
P & L. So all in all you are getting an extra 20K a year for FREE. There is also more income to be made outside complex with neighbouring complexes with someone with a good work ethic, but current Managers have run out of puff.
All gardening equipment is supplied and maintained by the body corporate including a ride on mower. Long management contracts provide certainty and will assist purchasers considering finance. All systems are in place to ensure an easy transition to your new lifestyle! New managers who are prepared to take on repairs and maintenance will generate additional income!!

Managers Townhouse $435,000.
Management Rights $450,000.
Net profit $100,000.
Total price $885,000.

To inspect this business please contact the agent Kerrie Lush 0416 084 693 or email
kerrie@raas.com.au

Property Summary

Business Snapshot

Price: $885,000 Net Profit: $100,000 Remuneration / Body Corp Salary: $58,000

Managers Unit

Value of Managers Apartment: $435,000Bedrooms: 3

Complex Information

Complex Type: PermanentTotal Units in Complex: 54Total Units in Letting Pool: 17Holiday Units: 17Agreement Term: 25 yearsAgreement Term Remaining: 25 years

Marketing Agent


Marketing Agency

RAAS Group

Christopher Jones
RAAS Group

Phone

Listing Tools

Property Map

Map Location ( get directions )

Banora Point, New South Wales 2486 Exact map location not provided

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