Manly West, Queensland

$1,230,000

Property Description

GREAT BUY! MULTIPLIER OF 4.6

This modern seven-year-old townhouse complex is a real standout, making it a great place to call home. An excellent central location with the convenience of shops, child-care and public transport all nearby.

On-site manager is well remunerated with a Body Corporate Salary of approximately $62,000 (plus GST). 23 years remain on Management Rights agreements.

The manager’s roomy free standing 3-bedroom villa with sunny outlook and office attached sits tucked away in the quiet, well maintained residential complex.

The Shopping Village is conveniently located within walking distance and Wynnum Plaza and the Manly Boat Harbour are a short 5 min drive away. With direct access to the Port of Brisbane, Gateway Arterial and Brisbane Airport this location is superb. And it is in close proximity to some of Brisbane's finest private and public schools.

The letting pool operates under the National Rental Affordability Scheme (NRAS) and offers security to the onsite manager. Around 90% of owner investors reside interstate.

Outgoing manager purchased this terrific permanent letting business six years ago from the property developer and enjoys a very supportive Body Corporate committee.

A straight-forward and secure business to operate. Don’t miss out!!

Property Summary

Business Snapshot

Price: $1,230,000 Net Profit: $170,452 Remuneration / Body Corp Salary: $61,808Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $450,000Bedrooms: 3Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes
Roomy free standing 3-bedroom villa with sunny outlook and office

Complex Information

Complex Type: PermanentTotal Units in Complex: 55Total Units in Letting Pool: 50Permanent Units: 50Owner Occupy Units: 4Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: Yes

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Manly West, Queensland 4179 Exact map location not provided

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