Seapoint on Trinity
SeaPoint on Trinity, is one of those rare properties that just takes your breath away. How could any person not be astonished by the breathtakaing vista’s that encompass this delightful building. This complex has proven to be easily managed & the location assures that it will continue to prosper in todays turbulent market.
There is more to tell, however we reccomend that you inspect this fabulous property to appreciate what it can offer, not only as business, but a lifestyle in paradise!
The Manager’s enjoy a two bedroom two bathroom with 2 outdoor patios, approvals in place to build in the smaller patio. Direct access to the office from the Manager’s unit.
This property should command a 5x Multipler, however the Vendors are serious!
Summary
19 Apartments in complex comprising:
BLOCK A
6 x 2 bedroom beachfront apartments
1 x 3 bedroom beachfront penthouse
BLOCK B
3 x 2 Bedroom pool view
3 x 2 bedroom mountain view
6 x 1 bedroom mountain/garden view
In letting Pool
5 x 2 bedroom beachfronts
2 x 2 bedroom pool view
2 x 2 bedroom mountain view
5 x 1 bedroom mountain/garden view
1 x 3 bedroom penthouse has just entered the letting pool as of February 2009
Outside agents: BLOCK A
1 x 2 bedroom beachfront (this apartment is up for sale).
Owner/occupiers: BLOCK B
2 x 2 bedroom
1 x 1 bedroom mountain/garden view
(owner is moving on & unit will come back into the letting pool)
Caretaking Agreement is for 15 years August 2004
Renumeration: Currently $ 33,755.00 with annual CPI increases
Body Corporate Fees: $1123.54 per quarter
Council Rates: $975.49 per half year
Price of Unit: $390,000
Net Income: $163,500. (A Multiplier of just 3.5!)
Total Asking Price: $950,000
Every care has been taken to verify the accuracy of the information contained in this document, but no warranty (either express or implied), is given by the agent as to the accuracy of its contents. Proposed purchasers should conduct their own investigations into all matters relating to the proposed purchase of the management rights business.