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Real Estate at Valuation. Averaged Multiplier of 5.15x! Now thats a Good Price!
Reduced Averaged Multiplier of Only 5.15x!
Permanent management rights, Fortitude Valley QLD
LOCATED AT THE BRISBANE SHOWGROUNDS END OF FORTITUDE VALLEY. WALK TO THE GRAMMAR SCHOOLS!
The Seller is monitoring the growth of his business every month, and the year to end of January 2025 saw another increase in net profit!! Not everyone can show you that! AND we're happy to provide the data to confirm the same right at the outset! The standard MLR Net is now $283,602. Additional income is now increased to $15,469.
The very realistic adopted multipliers are now at 5.3x on the standard net profit and 2.5x on the additional income sources. When averaged this reflects a 5.15x multiplier for a very-close-to $300K net profit business! Wow!
The primary letting pool remained stable at 35 under management with the close - nearby external managements increasing to 6.
A modern low-rise complex of 80 apartments/townhouses plus 12 strata commercial lots at street level, located on the very edge of Fortitude Valley and Spring Hill and within walking distance to the Old Museum and Exhibition Grounds. Note: The Manager has no duties involving the 12 commercial lots.
Principally a one-person role for gardens, pool and common area cleaning, usually performed as a few hours a day, leaving most of the week for a mix of business and down-time. The current managers do engage cleaners one day a week - part-time - to clean the entry areas.
The Managers, after 10 good years, are looking to move to semi-retirement. The current & pragmatic committee work well with the manager. The length of time in the role is a testament to the stability and quality of this particular business.
A couple of solid points on this Business so you can understand the day-to-day a little more:
Caretaking duties only occupy a few hours each day (M- F). Sometimes, it's only M-Thursday!
Manager's two-level town-home is being sold at Valuation - as prepared by Alison Sun at Accom Valuers in February 2025!
Just so you know, the CCTV camera system is available on your mobile phone.
This is a low-medium-demand business!
If you're looking for a great income, a great salary and good lifestyle, a very nice two-level 3-bedroom apartment, then this inner-city location could be the one that works!
Call Greg Jorgensen today on 0407 721 335 to both discuss and receive the extensive documents package.
More Information
- Total Purchase Price: Reduced Averaged Multiplier of Only 5.15x!
- Net Income: $ 299,071
(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?