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Create ListinKelvin Grove Add-on
$199,000
Resort / Holiday management rights, Kelvin Grove QLD
EXCLUSIVE TO CRE BROKERS. Small and simple 'add-on' Management Rights business in the heart of Kelvin Grove, very close to Kelvin Grove Urban Village and QUT campus.
The property comprises 19 units, 7 of which are in the letting pool. There is virtually no gardening involved as the common areas are mostly tiled and concreted, hence simple to look after.
The current manager has held this business since the complex was built and there are 20 years remaining on the Agreements. You could add this on to your existing portfolio or, if you're a beginner, start with this one and work from home.
TOTAL NUMBER OF UNITS: 19
UNITS IN LETTING POOL: 7
NET PROFIT: $36,410
MANAGERS RESIDENCE: Not applicable
REAL ESTATE PRICE: Not applicable
More Information
- Total Purchase Price: $199,000
- Net Income: $ 36,410
(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: 5.5
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