Unit @ 45 Montana Road, Mermaid Beach
Offers Over $600,000
Rare Find at Mermaid Beach - 3 Bedroom plus Management Rights! Apartment - Property ID: 861357
Situated on the beach side of the highway in the boutique Mermaid Park complex, this ground floor apartment also comes with a separate exclusive use office. The apartment is generously sized throughout and feels just like living in a suburban home.
The apartment features a spacious open plan living area that flows out to a large balcony and enjoys privacy whilst being ideal for alfresco dining or entertaining friends.
Each of the three bedrooms are well sized including the spacious, ensuited master bedroom.
There are also 2 allocated car spaces in the security basement, and no need to struggle with groceries as the complex has a lift!
Now you have the accommodation sorted the business side is so easy to run. Very little time is needed to clean the pool or mow the minimal lawns.
There are a total of 15 units in this building with the following business breakdown -
1 holiday let 3 bedroom apartment:
This apartment has the ability for further growth in letting returns as its one of a kind. Designed by the owner as a wheel chair friendly unit. It's very hard to find this type of accommodation on the Gold Coast.
5 x permanent rental apartments:
This is where you get to choose your neighbours. Each of the owners are long term investors.
2 units are let by outside agents, you have the ability to win these back from the investor by showing them how well you can operate the building.
7 x owner occupiers residing full time which are all a great bunch of people. (Remember I lived there)
Security for the buyer:
- The body corporate agreement is for 10 years with 7 years remaining
- Body corporate salary is $20,665.80 (Financial year figures)
- Nett $31,847.09
Owners unit expense:
Water Rates - $1,538.00 pa
Building Rates - $1,540.24 pa
Levies - $4,685.72 pa
Sinking fund - $30,000.00
15 units in complex (building completely painted 2016)
6 units in letting pool (5 permanent 1 holiday)
Managers apartment large 3 bedroom with ensuite (independent valuation $560K)
2 car parks basement /storage
office area exclusive use
- Built-In Wardrobes
- Close to Shops
- Close to Transport
- Secure Parking