Labrador
$1,750,000
3
2
3
Management Rights
- 80 Total Units
- Permanent Complex Type
- 34 Letting Pool
- $147,254 Remuneration
- $243,970 Net Profit
- $600,000 Manager's Unit
- Pets Allowed, Pool Features
Property Description
GREAT RETURNS - NO NEED TO LIVE-ON SITE!
Are you looking to purchase a robust Gold Coast Management Rights business with a low capital investment in the real estate component? Look no further, as you will reap the benefits of excellent returns on this investment. Attractively, 60% of net income is derived from Body Corporate salary of over $147,000 p.a. (ex-GST), increasing yearly by the greater of CPI or 3%. And 20 years remain on Management Agreements. This business has a solid letting pool as the townhouse complex, situated in the heart of Labrador, is so popular with tenants resulting in consistently strong demand for on-site rentals. Manager is not required to live on-site and is currently renting the on-site residence. The Manager's townhouse is a tidy 3 bedroom, 1.5 bathroom abode with a single lock up garage and two car spaces. Office is on title and entry is separate to the home. No vehicle gates or BBQ to be maintained. And this community scheme is registered under the 'Standard Format Plan' which simplifies the Building Manager's duties. A fantastic location, good transport options, close to the Gold Coast Hospital, Griffith University, shops, cafes, Harbour Town Shopping Centre, Broadwater foreshore, parkland areas and primary school. Inspection is a must! You will not be disappointed.
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