$550,000 - Business Only Contact Agent For Address
Contact Agent For Address Palm Beach QLD 4221
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Rare Chance to Own Profitable Coastal Gem!
Unlock a unique investment opportunity with the business-only management rights to Acqua Apartments, nestled in the heart of Palm Beach on the stunning Gold Coast. This rare proposition offers near-new management rights with an impressive 24-year tenure and no obligation to own real estate within the building, providing flexibility and ease for experienced operators or those looking to expand their management portfolio.
Acqua Apartments is a boutique residential complex consisting of 62 meticulously designed units, offering a range of two- and three-bedroom configurations to cater to various lifestyles. Set within a tranquil and picturesque neighborhood, Acqua is highly sought after by both investors and tenants who desire a slice of beachside paradise. The property is just minutes away from patrolled beaches, making it an ideal location for those who cherish coastal living.
The complex features a central courtyard, a swimming pool with a poolside deck, a gymnasium, and a rooftop terrace with a barbecue area perfect for entertaining. These facilities contribute to the high occupancy rate and strong tenant demand, ensuring consistent returns for the management rights holder.
The business boasts a strong financial profile with a net profit of $111,152 and a solid Body Corporate salary of $96,537, reflecting the robustness and profitability of this venture.
Acqua Apartments also provides a dedicated manager’s office and a storage facility under the Owner’s Agreement (OA), making it easy to manage the business efficiently. The absence of a requirement to live onsite further enhances the appeal, allowing for greater property management flexibility.
Acqua Apartments is situated in one of the Gold Coast’s fastest-growing suburbs. Palm Beach, affectionately known as “Palmy,” is renowned for its relaxed, holiday-like atmosphere and small-town charm, despite recent developments. The area offers a vibrant local scene with easy access to Burleigh Heads and the Gold Coast Airport.
Property Details for Contact Agent For Address, Palm Beach
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About Palm Beach 4221
The size of Palm Beach is approximately 6.3 square kilometres. It has 12 parks covering nearly 16% of total area. The population of Palm Beach in 2011 was 13,956 people. By 2016 the population was 14,689 showing a population growth of 5.3% in the area during that time. The predominant age group in Palm Beach is 30-39 years. Households in Palm Beach are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Palm Beach work in a professional occupation. In 2011, 54.5% of the homes in Palm Beach were owner-occupied compared with 55.2% in 2016.
Palm Beach has 10,404 properties. Over the last 5 years, Houses in Palm Beach have seen a 105.32% increase in median value, while Units have seen a 105.82% increase. As at 31 October 2024:
- The median value for Houses in Palm Beach is $1,927,621 while the median value for Units is $988,399.
- Houses have a median rent of $950 while Units have a median rent of $750.
There are currently 72 properties listed for sale, and 34 properties listed for rent in Palm beach on OnTheHouse. According to CoreLogic's data, 501 properties were sold in the past 12 months in Palm beach.
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