SECURE 24 YEAR AGREEMENTâ SOLID BC SALARY | Resort Brokers ID : MRC008829

$625,000

Permanent Management Rights, Townsville City QLD

ResortBrokers presents an excellent opportunity to acquire the caretaking-only business at Riverway Point, a modern low-rise apartment complex in the highly sought-after suburb of Condon. This investment opportunity boasts long agreement terms of 24 years, providing stability and assurance for the discerning investor. This is a viable and secure proposition for an astute investor to expand their business. The complex comprises 70 units and is underpinned by a solid body corporate salary.

Riverway Point is a secure complex with gated entry, located in close proximity to major arterial roads, sporting facilities, shops, and restaurants. The three-story building requires no lift maintenance, further enhancing its appeal.

The manager's unit features two bedrooms, two bathrooms, an open-plan living area, modern appliances, stylish bench tops, a covered private patio area, air conditioning, and secure undercover parking. The complex also includes a separate office, swimming pool, and barbecue area.

This caretaking business is situated in a prime location, offers flexible working conditions, and has strong income potential. It is located in a high rental demand area, making it an attractive proposition for investors seeking a robust and rewarding investment.

- Secured by an extensive 24-year agreement term
- Effecient threes-storey structure with no lift maintenance required
- Strategically positioned near key transport routes, sports facilities, retail outlets, and eateries
- Enhanced security with a gated entry system
- Profitable caretaking business in a prime location, flexibile work conditions, and high income potential
- Inspection by appointment only
Date updated: 01 Aug 2025 01:00:04

More Information

Financial Overview

Total Purchase Price: $625,000
Net Income: $ 96,809 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 350,000
_{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.}

Letting Business

Letting Pool: 42
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 10
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 17
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 70
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 96,809
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 24 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: Mon - Fri 8 am - 5pm
_{Required Office Hours}

Complex Features: Modern low rise apartment complex situated in the southern region of Townsville, North Queensland. Common facilities include; onsite management, swimming pool, barbeque area and onsite visitor carparking. The complex comprises of 57 x two bedroom units, 12 x three bedroom units, 1 x Manager's Unit and a total of 70 residential lots.

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 350,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 0
_{Is there a manager's office included on the title?}

Pets: yes
_{Can the manager own a pet on site?}

Unit Features: Two bedrooms, two bathrooms, open plan living area, modern appliances and stylish bench tops, covered private patio area, air-conditioning and secure undercover parking. A separate office located on site of the complex