Description: 16 units - being part of a five level building and occupying the entire second floor.
Construction: Five level concrete slab construction with rendered brick / concrete block walls and flat roof with sun deck and pool. Security basement parking.
Age of Building: Constructed approximately 25 years ago, the property has been well maintained and has a strong body corporate fund.
Turnover: 10 Months July 2020 to End April, 2021: $565,908;
19/20 $346,991; 18/19 $468,587
Net Profit: 10 Months July 2020 to End April, 2021: $309,252
Strata & Council Fees: $53,700 per annum
Occupancy: 60%
Tariffs:
Back Room $149 to $220 (Low to High Season)
Front Room $169 to $249 (Low to High Season)
Suites $249 to $399 (Low to High Season)
Clientele: Tourists, Holiday Makers
Restaurant: No - Town Centre location - at least 20 restaurants within 5 minutes
Services: Cocktail Bar & Hotel within 100m, free Wifi, Foxtel & satellite channels, mix of king or queen beds, full cooking facilities, undercover car parking, rooftop pool
Laundry: Some apartments have laundry
Comment: Visual inspection of the property is delightful and offers high quality mid range accommodation allowing a holiday in a premium location at a very affordable price. This property is very easy to operate and manage and offers a semi-retirement business lifestyle. Inspection is highly recommended.
MQ Property ID:
6437912
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