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NO REQUIREMENT TO RESIDE ONSITE
$1,990,000
Permanent Management Rights, ASHMORE QLD
This central Gold Coast Management Rights business is the one to buy!
You now have the opportunity to secure this sound residential caretaking and letting operation with a generous Body Corporate salary of $109,000 (+ GST) p.a. increasing yearly by CPI. Furthermore, with the letting pool income representing approximately 50% of the $220,000 Net Profit the incoming manager is provided with a good balance of income streams.
With over 23 years remaining on current Management Agreements, this Management Rights business certainly ticks all the boxes and thus the expectation of a stable long-term business.
An opportunity also exists to increase the present onsite rental pool by securing a number of outside agents lets from within the complex.
Manager's 3-bedroom, 2-bathroom, 2-car townhouse has the onsite office attached and as stated there is no requirement to live onsite. Presently this property has a six-month lease for the sum of $800 per week plus water usage, providing flexibility to the incoming manager as to residency options going forward.
An extremely popular gated townhouse community boasting an excellent location and strong tenant demand. A short walk to TAFE, train station, shopping and parks. Located within the Benowa State High catchment area and a stone's throw from Bellevue Park State School.
It is time for this very satisfied long-standing owner to move on from this rock-solid business. Opportunity knocks. Enquire with me now.
More Information
- Total Purchase Price: $1,990,000
- Net Income: $ 220,089
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 860,000
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?