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WATER VIEWS - SIZEABLE PROFIT UPSIDE
$1,136,000
Permanent Management Rights, SOUTHPORT QLD
Contemporary and spacious apartments within the Gold Coast's CBD, featuring magnificent Broadwater views.
Superbly located, a short stroll to the Broadwater and only minutes to the Southport business centre, Australia Fair, Chinatown and light rail stations. The location also offers convenient access to the M1 with bus stops only 150 meters away.
21 years remain on management agreements. Minimal repairs and maintenance income. Body Corporate Salary, increasing by at least 3% p.a. represents 65% of net profit. No swimming pool. No set office hours.
Plenty of room to grow this straight-forward Gold Coast Management Rights business! With 17 apartments within the building currently managed by external agents, this represents a tremendous opportunity to more than double your letting pool!
Manager's apartment, associated with the business and priced at $750,000, is a lovely 2-bedroom, 2-bathroom, 2 car space residence. The office is exclusive use, so need to purchase that.
This low maintenance and inviting building offers the onsite manager a great lifestyle with quality tenants queuing up to also enjoy.
A wonderful business opportunity presents itself here. Do not wait!
More Information
- Total Purchase Price: $1,136,000
- Net Income: $ 101,527
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 750,000
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?