Permanent Complex - $124K Salary, 25 year Contract - Cannonvale - P3494MR
CRE Brokers are pleased to have been appointed Exclusive Marketing agents for this Solid Money Earning Business is the Whitsunday Region.
A new 25 year contract has just commenced with a $124K BC salary with a very generous annual increase.
This permanent complex consists of 90 Apartments (2 and 3 bedroom); ideally suited to renting with happy investors collecting about 5-6% on their capital. Tenants are in abundance as it is ideally located adjacent to a large shopping centre and close to transport which suits employees from nearby resorts who don't own a car.
There is a beautiful feature pool in the middle of the complex which presents beautifully as the Body Corporate just had the entire property re-painted in modern décor colours.
There is plenty of upside for the enthusiastic manager, with a gated complex that is relatively simple to look after – no BBQ Area, No gym, No Tennis Court, No lift, and with 41 permanent rentals this is a great opportunity to contract a very solid stable income.
UNITS IN LETTING POOL : 41
MANAGERS RESIDENCE : 3 bed plus office on title and 2 carports
NET PROFIT : $175,000
REAL ESTATE PRICE : $225,000
BUSINESS PRICE : $650,000
TOTAL ASKING PRICE : $875,000
Price: Management Rights $875,000 neg.
Net Profit: $175,000 Remuneration / Body Corp Salary: $117,000Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $225,000Bedrooms: 3Bathrooms: 1Car Spaces: 2Office: On TitlePets OK: Yes
Complex InformationComplex Type: PermanentTotal Units in Complex: 90Total Units in Letting Pool: 41Permanent Units: 41Owner Occupy Units: 16Outside Agent Units: 32Lockup Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Central