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CRE Brokers are pleased to be appointed Exclusive Marketing agents for this Solid Money Earning Business is the Whitsunday Region.
The Management Rights contract has 20 years to run and the Manager's salary is superb at $117,000 p.a. with annual increases written into the contract. Net profit is $175,000 p.a. which makes a 20% ROI.
This permanent complex consists of 90 Apartments (2 and 3 bedroom); ideally suited to renting with happy investors collecting about 5-6% on their capital. Tenants are in abundance as it is ideally located adjacent to a large shopping centre and close to transport which suits employees from nearby resorts who don't own a car.
There is a feature pool in the middle of the complex which presents beautifully as the Body Corporate just had the entire property re-painted in modern décor colours.
There is plenty of upside for the enthusiastic manager. This is a gated complex that is relatively simple to look after - no BBQ Area, no gym, no tennis court, no lifts, and with 41 permanent rentals this is a great opportunity to contract a very solid stable income.
UNITS IN LETTING POOL : 41
MANAGERS RESIDENCE : 3 bed plus office on title and 2 carports
NET PROFIT : $175,000
REAL ESTATE PRICE : $225,000
BUSINESS PRICE : $650,000
TOTAL ASKING PRICE : $875,000