Owner must retire! Instructs a massive price reduction of more than $25 000 - 1P4365MR
A living and business environment that will tick all the boxes, with 79% of the income being securely derived from the caretaking salary. The current caretaker enjoying more than fifteen years of residence, however, she must now retire. There is room to grow the letting income within this residential complex. The Principle Committee oversees the common areas shared by the Apartments and Stand Alone Houses. Superb amenities and location viz: only 9km from the CBD; Prince Charles Hospital; walking distance to McDowall State School and only minutes to the North-side Christian College. This is an ideal complex to grow your Management Rights portfolio. The business is partnered with a comfortable and spacious 3 bedroom, 2 bathroom and double garage with a generous 24 square metre storage capacity. This is a home that you may choose to live in. You can expect a rental income from the manager's residence of $500 per week. All you have to do is inspect and see the benefits for yourself.
TOTAL NUMBER OF UNITS : 38
UNITS IN LETTING POOL : 8
NET PROFIT : $63,000
REAL ESTATE PRICE : $460,000
BUSINESS PRICE : $188,888
TOTAL ASKING PRICE : $648,888
Price: Management Rights $648,000
Net Profit: $63,000 Remuneration / Body Corp Salary: $51,182Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $470,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes
Townhouse with 3 bed 2 bath 2 car garage extra-large storage within Garage.
New kitchen stone bench tops Europe appliances timber planks flooring in living areas.
Complex InformationComplex Type: MixedTotal Units in Complex: 38Total Units in Letting Pool: 8Permanent Units: 8Owner Occupy Units: 20Outside Agent Units: 10Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: Yes
Other Features / Notes
A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS