Lifestyle With Opportunity To Grow Revenue
Property ID:
web29
Property Details
| Authority | open | | Building Type | 2 Story Walk Up | | Features | Above Ground Pool, Spa, BBQ area | | Pets Allowed? | Yes | | Reference | 29 |
|
Management Rights Information
|
|
$820.000,-
|
|
|
$109,206
|
|
|
Actual
|
|
|
$22,500.00
|
|
|
14
|
|
|
14
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
15
|
|
|
10
|
|
|
5
|
|
Managers Unit Features
|
|
Yes
|
|
|
Yes
|
|
|
$380,000.00
|
|
|
Yes
|
|
|
2
|
|
|
2
|
|
|
1
|
|
|
|
|
|
|
Property Description
This impressive partly new boutique style complex comprises a total of 14 luxury apartments made up of 14 dual key two bedroom apartments which can be rented as 1 bedroom motel style, 1 bedroom self contained or 2 bedroom self contained apartments.
Built in 2005 to a very high 4 star standard, it has since been constantly maintained under professional on-site manager/owner/developer. The property is an example of traditional modern architecture and holds considerable charm for first time visitors to Tropical North Queensland. It has since become a highly favoured property enjoying a large following of enthusiastic repeat guests.
There are three buildings with two levels to the complex, starting on the ground floor which houses the managers apartment with office attached as part of the managers holdings on title. The ground floor area is shared with a spacious relaxation area surrounded by a delightful resort style pool with BBQ facilities. The resort has a seperate area with a spa bath.
The remaining apartments are on the first and second floors with some views across to the Coral Sea. All apartments have undercover parking.
Current developer/manager has established the current net profit with only 9 apartments in the pool over the last 3 years. The third building (5 apartments) was completed only 3 months ago, and therefore the new managers will have the opportunity to increase the revenue in the future.
Agent Details