Proudly supported by all of the industry's leading brokers
ACQUIRE A LOW MAINTENANCE, EFFORTLESS LEASE HOLD ON THE MORNINGTON PENINSULA | Resort Brokers ID : LH008252
$250,000
Motel (Leasehold) hospitality, Tootgarook VIC
ResortBrokers presents the Lease Hold of Rye Family Apartments, a prime investment opportunity in Victoria's Mornington Peninsula.
With eight apartments directly opposite Tootgarook front beach, this low-maintenance property is an effortless operation, ideal for holiday makers, sporting and tour groups.
No requirement to live on site, and potential for site development, this is a unique chance to penetrate or expand on the thriving tourism sector.
Don't miss this opportunity to capitalise on the booming Mornington Peninsula market.
- Strategically located in Victoria's bustling Mornington Peninsula.
- Effortless operation with a total of eight apartments.
- Prime location directly opposite Tootgarook front beach and just an hour away from Melbourne.
- Unrivalled opportunity to penetrate Mornington Peninsula's thriving tourism sector.
- Potential for site development in collaboration with the landlord.
- Low-maintenance property requiring minimal upkeep.
- Includes a one-bedroom manager's residence with potential for conversion into an additional apartment with no requirement to live on site.
- 1 year remaining on the initial term with a further 2 x 5 year options
- Inspection by appointment only
Date updated: 01 Dec 2024 22:00:03
More Information
- Total Purchase Price: $250,000
- Net Income: $ 90,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?