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A Money Making Machine in Mount Maunganui!
Listing: #EL00632
Gordon Fridge
Broker | Bay of Plenty
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About this Business for sale in Bay of Plenty
A Money Making Machine in Mount Maunganui!Atrium Apartments, Management Rights
Based in the stunning Bay of Plenty town of Mount Maunganui, the Atrium complex is one of the largest buildings in the region consisting of 60 apartments.
This sound business, with an abundance of potential, is on the market at a very realistic price. Potential buyers' purchase options: buy the lot or simply buy the business and rent the managers apartment. Can it get any easier! Pricing below:
- Business = $895,000
- Real Estate = $595,000 (2 x bedroom apartment, reception & laundry)
Key Features
- Superb location
- 30 apartments in letting pool
- Very good net profitability coupled with an enormous upside
- Large & valuable real estate component to go with the business & reception on title (optional)
- Private walkway to the beach
- Gym, sauna/spa, wonderfully large swimming pool
- Concrete & block construction
Configuration:
The complex consists of 60 apartments with 30 currently in the letting pool. All of the apartments have balconies with nearly all of the apartments enjoying expansive ocean or Pilot Bay views. All apartments are spacious and have full cooking facilities. The 30 apartments in this well configured letting pool consist of the following:
- Studio
- One bedroom
- Two bedroom
- A three bedroom
Complex:
Mount Maunganui is New Zealand's French Riviera. The growth in Tauranga and Mt Maunganui is phenomenal; in fact Tauranga is now New Zealand's 5th biggest city and the growth will continue!
The Atrium Apartments is one of Mt Maunganui's iconic buildings. This eye catching complex was built in the early 2000s and has been very well maintained. Like similar locations throughout NZ with the property market lifting off to another stratosphere, Tauranga. and more so Mount Maunganui, is no different. Investors have seen the income potential and are purchasing/renovating apartments in order to receive maximum returns by way of a passive investment!
Contact me today to organise an inspection
Reference: EL00632
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.