River Plaza 27 year old apartment building, constructed as a hotel in 1988 for Expo. It functioned as a hotel for 12 years, converted to apartments in 2000.
67 units over 14 storeys, 2 ground floor apartments then 5 units per level on 13 levels. Each level has 4x 2 bedroom apartments and 1x 3 bedroom apartments. All 2 bed units have 2 baths; the 3 bed units have 3 bathrooms.
Some of the rental units have been split into sub-units, where the main living area and one bed/bath becomes a one bedroom unit, and the 2nd bedroom/bath is rented as a studio. Owners can maximise their returns this way. Most units are rented furnished, a small number unfurnished.
Management fee is currently $84,288 p.a (plus GST), this has increased mid-April by CPI to $86,064 p.a. In addition the manager is paid $9,650 (plus GST) per year to manage the reading and billing of the electricity meters in the building. This is a contract arrangement; a new 2 year contract is in place.
The Management Agreement has recently been topped-up, now has 20 years to run to 2035 no set office hours required

The on-title Managers unit (Lot 2) consists of a small front office from which the letting business is run, and a further area behind the front office which has recently been upgraded This is a fantastic complex that offers an amazing lifestyle, don’t miss out!!

Rent an apartment on the top floor with magnificent million dollar river and city views!
Offset by the income of the Unit 2 1 Bed 1x Bath ground floor apartment.