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Great buying opportunity on the South-side.
The Vendors, having been in the Industry for many years, sadly, must give up the offering on sound medical advice. This is a one-off opportunity for a keen purchaser to buy a steady business and excellent home below current market values. Due to the seriousness of these health issues the Vendors at this south-side complex of 60 units have a real genuine need to sell the business and residence.
The Caretaking and Letting Agreements run until 2041 with options available to extend further thus providing excellent security over your investment.
THE VENDORS ARE WILLING TO CONSIDER ANY REASONABLE OFFERS.
The complex is currently run with the help of a part-time gardener but would suit either a couple or single operator to fulfil the requirements of the Body Corporate Agreement. All equipment including a ride-on-mower to maintain the common areas of the complex is owned and serviced by the Body Corporate
The net income has been steady for some time now and there is an opportunity for a manager to increase the bottom line with the addition of other income streams.
In today's market this home and business package represents good value for money and must be inspected at the earliest.
TOTAL NUMBER OF UNITS : 60
UNITS IN LETTING POOL : 52
MANAGER'S RESIDENCE : 3 BEDROOM FREE-STANDING TOWNHOUSE
NET PROFIT : $155,556
REAL ESTATE PRICE : $425,000
BUSINESS PRICE : $735,000
TOTAL ASKING PRICE : $1,160,000