Stafford, Queensland

Massive Price Drop now only $820,000

Property Description

Great Business - Not Required to Live On-Site

Management Rights complex containing 56 units for independent residents 55 and over!
• Great Value
• Fantastic location only 200mtrs from Stafford City mall with doctors, dentist, picture theatre and public transport. You are just 15 minutes from the city centre.
• Popular with tenants
• 3 Bedroom, 2 bathroom managers unit with office
• Dining room on separate title which could be used for other ventures
• Plenty of upside with 16 lettings to potentially gain.
• Caretaking workload is very manageable
• Make money from the food service, only working Monday to Friday.
• No requirement to live on-site, rent out the managers unit for an extra $20K of income.
• Income has been verified by industry accountant
• Great return on investment, 15.2% Overall or 33.3% on the Business.

This complex is designed for the over 55's looking for a hot meal to be prepared for them. Tenants utilise this
service, as the units are usually only one bedroom with kitchenette, including microwave, fridge, fans and en-suite
bathroom. Rents are around $235-245 per week plus meals.
Consisting of 56 units including the manager's lot, there are 21 units are in the letting pool, there are 17 owner
occupiers and there is 1 letting to manage outside of the complex.
The gardens are not big, they are low maintenance and there is no gym, no swimming pool, no gate etc.
There is a dedicated kitchen and communal dining room where food is prepared and served.
All the equipment in kitchen is owned and maintained by Body Corporate.
Overall this style of management rights is a great way to get into an accommodation business at a reasonable price!

Property Summary

Managers Unit

Complex Information

Total Units in Complex: 0

Marketing Agent


Marketing Agency

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David Janett
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Phone

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Property Map

Map Location ( get directions )

Stafford, Queensland 4053 Exact map location not provided

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