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PERMANENT MID-SCALE MR ON BRISBANE RIVERFRONT WITH $500K+ NET PROFIT | Resort Brokers ID : MR008594
$2.7M Bus + $850K Unit
Permanent Management Rights, KANGAROO POINT QLD
This stunning complex is located directly on the riverfront in Brisbane; the permanent management and letting rights, plus associated real estate to Yungaba, in Kangaroo Point, offers incoming managers with a stable and secure business that's full established and easy to manage. Generating a net income of circa. $500,000 it offers an idyllic inner-city lifestyle, with views of the Story Bridge, city and beyond. The management rights to Yungaba would be best suited to an experienced two-person team or smaller private syndicate.
- Beautifully maintained mid-rise apartment complex with 167 units
- Brisbane river frontage in Kangaroo Point
- Lengthy tenure remaining on Caretaking and Letting Agreements
- Circa. 50 units in the on-site letting pool
- Office and storage areas provided under OA
- Growth potential via converting outside agents back into pool and through on-site unit sales
- No set hours but currently operating Mon-Fri 8.30am-4.30pm
- Manager is required to live on-site in one of the schemes
- Currently an employed property manager lives in the 2b/2b apartment - $850K
- Property can be run by a two-person full time team with contractors for caretaking
- All inspections by appointment only
Date updated: 05 Feb 2025 22:00:02
More Information
- Total Purchase Price: $2.7M Bus + $850K Unit
- Net Income: $ 512,258
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 850,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.
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.
Required Office Hours
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?