FOR SALE
MLR $1,493K + OFFICE $250K

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Teneriffe QLD 4005

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248K NET INCOME - BUY OFFICE ONLY! - PRESTIGE APARTMENTS

We are excited to now offer this Brisbane Management Rights package to the market.
Discerning buyers will understand the underlying value of this outstanding business proposition. Do the maths. A significant return on your investment awaits. Real estate component for this acquisition is for the ground floor On-Site Office only! No apartment to buy! This real estate gives the manager the same voting rights as owning one of the building's apartments, without the additional capital outlay! In this case the capital required to invest in the office is a modest $250,000 against the business purchase price of an affordable $1.493,000. TOTAL PRICE $1,743,000.
Factor in Net Income at $248,000 p.a. of which $164,000 is comprised of Body Corporate Salary, and you begin to appreciate the true value of this business enterprise.
No swimming pool within the building and no requirement for the Manager to live on-site. Furthermore, the quality of this building is high, and maintenance is low.
An opportunity exists for an enterprising incoming Manager to significantly increase the businesses bottom line with fourteen apartments currently let by outside agents and not yet in the onsite letting pool.
Enjoy the ambience of the stylish and modern building, offering one and two bedroom apartments catering to an ever-growing demand of quality tenants, particularly from high income earning young professionals and 'empty nesters'.
Located within Brisbane's most vibrant inner-city suburb, Teneriffe residents are immersed in the riverfront lifestyle surrounded by historic buildings and a leisurely stroll to the river boardwalk to enjoy amazing restaurants, shops, bars and cafes.
Transport is a breeze, with regular bus and ferry services providing hassle free access to the CBD.
Don't hesitate. Jump on the phone now and request an exclusive on-site inspection.

Property Details for Contact Agent For Address, Teneriffe

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Commercial

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About Teneriffe 4005

The size of Teneriffe is approximately 0.9 square kilometres. It has 2 parks covering nearly 4.3% of total area. The population of Teneriffe in 2011 was 4,700 people. By 2016 the population was 5,344 showing a population growth of 13.7% in the area during that time. The predominant age group in Teneriffe is 30-39 years. Households in Teneriffe are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Teneriffe work in a professional occupation. In 2011, 41.6% of the homes in Teneriffe were owner-occupied compared with 42.3% in 2016.

Teneriffe has 3,793 properties. Over the last 5 years, Houses in Teneriffe have seen a 6.11% increase in median value, while Units have seen a 65.57% increase. As at 30 November 2024:

  • The median value for Houses in Teneriffe is $1,852,817 while the median value for Units is $1,007,377.
  • Houses have a median rent of $775 while Units have a median rent of $750.
There are currently 19 properties listed for sale, and 22 properties listed for rent in Teneriffe on OnTheHouse. According to CoreLogic's data, 234 properties were sold in the past 12 months in Teneriffe.

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