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CRE Brokers are pleased to bring to the market, the Permanent Management Rights for this modern and well-established resort style complex in Cairns.
This is a mindfully designed facility consisting of 98 apartments, 47 of which are permanently leased. There is a solid income based on 100% occupancy along with a $200,000 caretaking salary.
The Manager's residence comprises 3 bedrooms, open plan living, 2.5 bathrooms with a large patio and garden. The manager is not required to live on site so there is potential to rent the unit.
TOTAL NUMBER OF UNITS : 98
UNITS IN LETTING POOL : 47
NET PROFIT : $272,700
REAL ESTATE PRICE : $400,000
BUSINESS PRICE : $1,322,000
TOTAL ASKING PRICE : $1,722,000