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Great Permanent Cairns CBD
$1,110,000
Permanent management rights, Parramatta Park QLD
This attractive permanent property is within a short stroll of all the best Cairns has to offer.
Thirty six two bedroom apartments with expansive views to the glorious mountain ranges.
Good quality of fittings and fixtures.
The renovated 3 bedroom 2 bathroom managers apartment is no exception.
Managers residence currently let via Airbnb at $80,000 pa gross income (not included in figures).
Low maintenance landscaped grounds great pool area, good salary and excellent opportunity for capital gain, make this a very desirable property.
High rental demand property, with waiting list.
Cairns currently has less than a 1% vacancy rate, one of the lowest in the country.
No set office hours.
No obligation to live onsite.
Call Alex for all further information or to arrange a property inspection.
More Information
- Total Purchase Price: $1,110,000
- Net Income: $ 131,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 560,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.2
Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?