Sold
NETTING OVER $230K - PERMANENT MLR IN BRISBANE'S BEST POSTCODE 4006
On offer is the management rights and manager's unit / office to 'Terrace on Gregory', a well-maintained and easy-to-manage permanent residential complex located in a prime inner-city location.
On offer is the management rights and manager's unit / office to 'Terrace on Gregory', a well-maintained and easy-to-manage permanent residential complex located in a prime inner-city location.
- Net profit
- $230K
- Asking $1.265M BUS + $700K UNIT
- Status
- Sold
The business at a glance.
- Beautifully planned three-storey complex with lift access
- Total of 78 apartments with 50 units currently managed in the onsite letting pool
- 23 owner occupiers (including manager's apartment) and 4 external lets
- High BC salary of $127,812+GST p.a
- Located near RNA showgrounds, RB hopsital and Royal International Convention Centre
- Easily managed by a management couple, or single operator working full time
- Caretaking duties include approx. 12 hours cleaning p/w and 2 - 4 hours p/w of gardening & pool maintenance
- There are no set office hours in the agreements
- Current management opt to open the office Mon-Fri; 9am to 5pm when they are onsite
- Stunning three bedroom manager's apartment with large attached office on title
- Facilities include heated pool & sp and gymnasium plus secure under cover parking
- Scope for incoming operator to switch back to short-term when Brisbane's coporate / tourism market recovers
The asset, the manager unit, the location.
Fortitude Valley, QLD
Fortitude Valley, QLD
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