PRICE REDUCED! A LITTLE GEM IN THE HEART OF LABRADOR!
Here is a great opportunity for an astute management rights buyer.
This complex is made up of 18 townhouses/duplexes. The complex is easy to maintain so is not time consuming. And, there is the opportunity to build the letting pool to 6 units.
There are 3 choices here:
1. You could keep your job and earn a BC Salary of $30,672 per year doing the care taking of the property while living in a great duplex.
2. Increase your income by rebuilding the letting pool. Five rentals in the complex are with outside agents.
3. Buy as an "add on" to your existing management rights with all the benefits. You can rent out the manager's townhouse while maintaining the office.
The manager's unit is a spacious 3 bedroom duplex with a renovated modern kitchen, new appliances and beautiful flooring. It has recently been painted throughout and there are solar panels with a 5Kw inverter.
BONUS: The current manager makes an extra $8,000 p.a. carrying out gardening duties for owner occupiers and landlords over and above Body Corporate salary.
Price: Offers over $495,000
Net Profit: $25,072 Remuneration / Body Corp Salary: $30,672
Managers UnitValue of Managers Apartment: $420,000Bedrooms: 3
Complex InformationComplex Type: PermanentTotal Units in Complex: 18Owner Occupy Units: 10Agreement Term: 25 yearsAgreement Term Remaining: 15 years