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.
0481 522 115
Net Profit: $123,000 Remuneration / Body Corp Salary: $63,887
Managers UnitValue of Managers Apartment: $370,000Bedrooms: 3
Complex InformationComplex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 27Holiday Units: 27Owner Occupy Units: 7Agreement Term: 20 yearsAgreement Term Remaining: 17 years