Molendinar, Queensland

$915,000

Property Description

Secure investment in high demand rental area.

Bishops Landing is a peaceful and quiet gated complex in a natural setting with 40 units consisting of a mixture of townhouses and villas, spacious grounds and a swimming pool. In a highly sort after rental area, there is a high percentage of investors units with only 7 owner occupiers on site.

The private Manager's residence has been refurbished, consisting of 3 bedrooms, 2 bathrooms and a nice outdoor entertaining area.

The body corporate salary and rental letting pool offers a net profit of $123k per year with potential increase through additional scheduled maintenance and an increase in income in possible additions to the current 27 units in the rental pool.

This is a great investment with strong rental demand in this area giving a secure future income. Current vacancy rates in this area are under 1% confirming this is an ideal permanent letting business.

Motivated owner looking for offers over $915k. Contact Jon Love to discuss further and arrange an inspection.

Love Management Rights.
Love the Lifesytle.

Jon Love
0481 522 115

Property Summary

Business Snapshot

Price: $915,000 Net Profit: $123,000 Remuneration / Body Corp Salary: $63,887

Managers Unit

Value of Managers Apartment: $370,000Bedrooms: 3

Complex Information

Complex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 27Holiday Units: 27Owner Occupy Units: 7Agreement Term: 20 yearsAgreement Term Remaining: 17 years

Marketing Agent


Marketing Agency

RAAS Group

Jon Love
RAAS Group

Phone

Listing Tools

Property Map

Map Location ( get directions )

Molendinar, Queensland 4214 Exact map location not provided

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