Management Rights - VARSITY LAKES, QLD

VARSITY LAKES, QLD

$1,632,000

Property Description

3 COMPLEXES IN THE SAME VICINITY, LIVE OFF SITE!

3 Corporate complexes, very very good income, room for improvement.

3 complexes in a close vicinity, Very low maintenance and hardly any gardening

Only one managers unit to buy, one office to buy, and LIVE OFF SITE!

Managers unit is currently being let out for $460 a week NOT IN P & L. High rental rates

All agreements on all complexes have been topped up or in the process of being topped up

GREAT RELATIONSHIP WITH ALL BODY CORPORATE

A rare opportunity to purchase 3 complexes in the one area!

Office is $80,000 Unit is $450,000 MR is $1,102,000

Please contact Robert Collins Exclusive Agent on 0404678792 or robertc@raas.com.au for an inspection
Financial Overview

Body Corp Salary:
173000
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
cpi
Net Profit:
$240,929
Manager's Unit Price:
$530,000
Management Rights Price:
$1,102,000
Letting Business

Est. Year Built: 10
Total Units In Complex: 119


Inside Letting Pool

Permanent: 35
Holiday: 0
Corporate: 0
Total: 35

Outside Letting Pool

Lock Up: 0
Outside Agents: 35
Self Managed: 0
Owner Occpd: 84
Total: 49

Number & Type In Letting Pool
Number Type Features
2 Bed
0 Bed
0 Bed
Tariffs

Booking Type Details
Permanent
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 2 Bathroom
Office Reception: yes
Office Software: REI Master
Office Hours: none
Storage: yes
Office Computer: yes
Module: Accommodation
Agreement Term: 10 , 25, 25
Years To Run: Refer to Information Memorandum
Manager's Unit Description: 3 Bedroom + Office/ 2 Bathroom , Managers unit. Modern design.

Facilities

Pool: No
Spa: No
Gym: No
Tennis Court: No
Sauna: No
Foxtel: Yes
Cable Installed: Yes
Pets Allowed: Yes
Barbeque Area: No
Wireless: Yes

Other Facilities: This is three complexes sold together as one. They are virtually next door to each other with only one office and unit to buy. There is no lawns or gardens to do so can be run if you wish by one person. There is 5 outside rentals
Total income is $240,929 at an asking price of $1,102,000 which is an average of 4.57 multiplier. I am sure you will agree very reasonable.
The vendor is negotiable without being silly.

Property Agent

Robert Collins

Robert Collins

Phone: 0404 678 792
Office: 1300 282 370

Email Listing Agent

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