Price Reduced
FLEXIBLE MANAGEMENT RIGHTS OFFERING SOLID INCOME WITH UPSIDE
The management and letting rights to Neo North Lakes is an excellent proposition for an astute operator looking for a well-run complex that presents real potential to increase margins. With no set office hours, part-time staff in place wishing to stay on, offering flexibility to live in or rent out the manager's unit, this investment has high appeal. An inspection is strongly recommended.
- Strong net profit of $256,449
- 88 apartments in the complex with 39 in the on-site pool
- Body Corporate salary of $112,899 p.a. plus commercial BC salary over $42K p.a.
- No requirement to live on-site, rental estimate of $480 per week
- Potential to convert outside managements back into the letting pool
- 18 years remaining on the Caretaking and Letting Agreements
- Quality finished two bedroom, two bathroom manager's unit with office for $500,000
- Common grounds, pool, gym, recreational seating area and BBQ facilities
- Superbly located for tenant appeal and close to all the major transport and shopping amenities
- All inspections by appointment only
