UPPER MOUNT GRAVATT QLD 4122
$945,000 (under offer)
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- 24 Apr 2017
MANAGEMENT RIGHTS FOR SALE IN UPPER MT GRAVATT
The address is possibly the best in Upper Mount Gravatt, adjacent to shops, cafes, restaurants, gyms and medical services. The building is sought after for its location and spacious apartments and is currently run by one person with plenty of spare time. An opportunity to capture the best return on your pre-retirement funds, much better than bank interest and also ideal for one person to manage while a partner works elsewhere.
Income is derived from 15 rental units in the building, 5 rental units in a nearby building, furniture hire and car park hire. There are also opportunities for minor maintenance and bond cleaning income. Intending buyers will need to hold a full Real Estate licence prior to settlement.
The Manager's huge three bedroom ground floor apartment is easterly facing, spacious and presents in top condition. The huge open plan living area opens to a private courtyard with raised garden bed, as do the three bedrooms. The main living area and main bedroom are air conditioned and there are also ceiling fans in each room. Floor tiles and 2 pac kitchen present as new. Small pet allowed with Body Corporate approval. The swimming pool is easy to care for and comes installed with an automatic chemical feeder. The building exterior and interior have been recently painted, good service contracts are in place and the building runs smoothly and requires little maintenance. The Body Corporate sinking fund is healthy with no major expenses forecast.
This is a unique business in arguably the best location possible being a short walk to Westfield Garden City Mall and even closer to The Village precinct. Excellent access to the Gateway, M3 Motorway and bus services. Two of the three on-title parking spaces in the secure area could be enclosed to form your own private double garage. Current Manager rents two of these parks and derives further income by renting out 8 others under lease arrangements. Included in the purchase price is approximately $15,000 of furniture owned by the Manager and rented to tenants providing additional income.
A reduced multiplier has been applied to the 5 outside rental units and carparking income resulting in an overall multiplier of 4.03 for the business The unit is well priced offering value, space and privacy.
Please contact EXCL Agent, Jim Prentice 0412 984 684 or E firstname.lastname@example.org about this strategically located caretaking and rental business with 3 bedroom apartment.
The complex is right in the heart of Upper Mt Gravatt adjacent to shopping and cafe facilities. Possibly one of the best addresses you will find. It is currently run by one person with time to spare. Income is derived from 15 rental units in the building and 5 rental units in a nearby building. Intending buyers will need to hold or obtain a full Real Estate Licence prior to settlement.
Small pet allowed with B/Corporate approval.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
UPPER MOUNT GRAVATT