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Great lifestyle - Great Location! - Great income

$885,000

Banora Point, New South Wales

Great lifestyle - Great Location! - Great income

A well presented and attractive complex of fifty four town houses is situated in the heart of Banora Point. close to excellent schools, shopping, clubs and bus. It comes with a tastefully renovated three bedroom town house with timber floors, tiled bathrooms, stainless steel appliances and covered outdoor living area. It has a fully enclosed rear garden and is pet friendly. In return for gardening duties with flexible hours and the management of 17 permanent rental properties it provides an income of $100,000 per year. All this for only $885,000!
Current Managers are earning extra income (10K) with doing works outside complex and this is not on the P and L but is in place for new Managers.
Repairs and Maintenance income is an extra 10K a year and is NOT in the
P & L. So all in all you are getting an extra 20K a year for FREE. There is also more income to be made outside complex with neighbouring complexes with someone with a good work ethic, but current Managers have run out of puff.
All gardening equipment is supplied and maintained by the body corporate including a ride on mower. Long management contracts provide certainty and will assist purchasers considering finance. All systems are in place to ensure an easy transition to your new lifestyle! New managers who are prepared to take on repairs and maintenance will generate additional income!!

Managers Townhouse $435,000.
Management Rights $450,000.
Net profit $100,000.
Total price $885,000.

To inspect this business please contact the agent Kerrie Lush 0416 084 693 or email
kerrie@raas.com.au

Features

Business Snapshot

  • Price: $885,000
  • Net Profit: $100,000

Managers Unit

  • Value of Managers Apartment: $435,000
  • Bedrooms: 3

Complex Information

  • Complex Type: Permanent
  • Total Units in Complex: 54
  • Total Units in Letting Pool: 17
  • Holiday Units: 17
  • Agreement Term: 25 years
  • Agreement Term Remaining: 25 years

Business Links / Tools

Last updated: 8th March 2019

Summary

Property Type
Business
Contract Type
For Sale
Location
 Banora Point
State
 New South Wales
Price
$885,000
Category
  • Management Rights
  • Property/Real Estate

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Agency

Contact

Christopher Jones