This complex is in a fantastic area with great rental demand. The manager’s accommodation is very comfortable with extra space behind the secure garage, extra large office on title and good sized courtyard area perfect for entertaining. There is an extra carpark allocated for the manager and also a personal use storage shed beside the pool.

Manager’s Unit: 3 Bedroom with Balcony and utility room
Total Apartments in Complex: 30 X 3 Bedroom Villas & Townshouses
Total Apartments in Rental Pool: 18 X 3 Bedroom Villas & Townhouses
Complex Facilities: Pool Gym&
Module: Accommodation
Years to Run on Agreements: 17 yrs
Equipment: Body Corporate/Manager
Pets: Yes with BC Approval (Current Mgr has pet)
Ass Clauses Signed: Yes
Office Program: Caretaker
Office Hours: None on Agreements
Storage: Plenty
Body Corporate Salary: $40,571
Manager’s Unit Price: $430,000
Business Price: $276,000

Net Profit: $69,000

The current owner is a one woman operation so there is no repairs and maintenance income in the figures. This could be a huge upside for anyone wishing to take on some of this work. The current owner also handles a few outside rentals currently producing $4000 p.a (not in the figures) with another 2 properties coming on line to be rented. These rentals could be negotiated if a purchaser wished to acquire them but you would need a full real estate license to manager these outside properties.

So few listings in the market place – you had best call now for an inspection before it too is gone!!!

(Purchasers should rely on their own due diligence figures for verification of Net Profit)