You have to start somewhere!

This is a neat complex of 26 x 1 & 2 Bedroom apartments, with pleasant gardens & a central location. With 20 units currently in the letting pool, this property has been a consistant performer with a mix of holiday, short term & permanet letting. While it is a mature complex, with a fresh outlook on the marketing & minor refurbishment, it could easily return more. It’s presently rated a 3.5 by the AAA, & which would have to be the best market in todays uncertain times. Take into account the Coral Reef Resorts location, with the new DFO, AFL Sports Club, & the Retirement Home next door, a steady business is assured.

The Managers unit was once a One Bedroom Unit, but somewhere in the past the patio has been built in, use this addional space as a second bedroom, another lounge room or whatever you decide!. Best to inspect to appreciate what you do with this unit! As a starter complex, you will struggle to find a cheaper property that has the potential for improvement It’s worth a look!.

Net Profit of $56,000
Body Corp Salry of $30.000
17 Years remaining on term
25 Year Agreement with annual CPI
Unit Price: $160,000 (Yes that’s right!)
Business Price: $210,000
Total Asking Price: $370,000

Every care has been taken to verify the accuracy of the information contained in this document, but no warranty (either express or implied), is given by the agent as to the accuracy of its contents. Proposed purchasers should conduct their own investigations into all matters relating to the proposed purchase of the management rights business.