Due to a recent abortative sale, this little gem is comes back to the market
$87,916 net income, offerred on a 3.4X multiplier.
Lovingly maintained permanent conmplex consisting on 42 units (18 in the pool).
Agreements have 24 years to run as of June 2011.
Located in the tranquil bayside suburb of Clevelenad, within walking distance of shops and supermarket. Good local schools
Bus stop on door step and 2 minute walk to train station
Extremely strong rental area (current management have not had a vacant day in 5 years!!).
Body corporate of $53,056 (ex GST), CPI linked, c. $1,260 per unit. Caretaking work is easily maintained by 1 person.
Manager's unit is a well presented, quiet, low-set villa consisting of 3 good sized bedrooms, 1 bathroom with dual access, open plan living / dining area, SLUG and an outside area.
Complex is pet friendly (up to 10kg) and has a lagoon style pool.
Ideal for a semi-retired couple looking for an easy lifestyle, great home and decent income OR a couple with one partner wishing to continue full-time work elsewhere.
Not only is this a cracker but it is very well priced - call Alex Cook on 0467 600 610 to arrange an inspection or for further details.
