Aged care and pensioner’s accommodation. This would suit a retired couple to manage or people considering running a B&B or backpackers. The property has not had an upgrade for a long time and has ample scope to renovate and add value. 1,219m2 of land and just 200m to the waterfront in Woody Point village precinct. Meals are included in the rent. Security of income with some coming directly from government assistance agencies to pay the occupants rent each fortnight. No land tax applicable as it is aged care.

Income
* 12 single rooms at $320 per week
* 8 double rooms at $595 per week. ($297.50 per bed)
* Total weekly rents of $8,600 when fully occupied.
* Annual gross income when fully occupied of $447,200. Outgoings of $123,612 leaving $323,588 nett
* This represents a gross return of 29.8% or 21.57% nett.

Outgoings
Rates $2,500 per quarter $10,000 annually
Water $3,500 per quarter $14,000 annually
Electricity $3,000 per quarter $12,000 annually
Gas $600 per month $7,200 annually
Telephone $116 & $85 per month. $2,412 annually
Cleaner and cook $1,000 per week $52,000 annually
Food $500 per week $26,000 annually
Total annual costs $123,612 annually

Property Code: 7