FANTASTIC DUAL PERMANENT MANAGEMENT RIGHTS NETTING OVER $246K!
The Pines Apartments and Alto Townhouses are a prime asset acquisition for an experienced operator or management team looking to secure a solid BC income and two, easy to run complexes presented in top condition. Located only 10 minutes apart in Gladstone!
- The Pines Apartments comprises 71 units with a majority being 2 bed / 1 bath / 1 car design
- Current letting pool of 48 furnished units. 5 permanent rentals with outside agents and 17 owner occupiers
- Manager's two bedroom unit with adjoining office (on title) positioned on ground floor - $220K
- On-site facilities - half tennis court, pool, BBQ & covered seating area, underground parking & secure key entry
- Elevated position overlooking the harbour and hinterland, short walk to major amenities and 5 mins to airport
- Alto Townhouses (10 mins drive) built in 2013 on a hillside location with lovely views
- 17 years remaining to 25 year caretaking and letting agreements
- Letting pool of 35 out of 42 townhouses, with 3 outside agents. All permanent rentals.
- No set office hours or real estate to own
- Modern design with quality finishes and spacious floorplans
- High combined net income over $246,000 for both complexes
- Underpinned by strong combined BC salary making up over 60% of income
