Proudly supported by all of the industry's leading brokers
WE'VE CRACKED THE $300K NET PROFIT!
ONLY 5.15x the NOW $300K NET!
Permanent management rights, Fortitude Valley QLD
This business's NET PROFIT has grown 6% in the last 12 months!! That's works out to an additional $90,000 added business value in that same period!
NOW THIS IS WHAT A WELL-RUN MR BUSINESS CAN ACHIEVE!!
The standard MLR Net, to end of May 2025, is now $283,478. Additional income, at a 2.5x multiplier, has now increased to $18,632.
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 5.12x multiplier for the now combined $302K net profit business! Wow!
Businesses with a north of $300,000 net income allows you, the manager, to both outsource and still live comfortably!
The primary letting pool remained stable at 35 under management with the close - nearby external managements steady at 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.
FOR THE LAST 10 YEARS: 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 downtime. The current managers do engage cleaners one day a week - part-time, to clean the entry areas. This is a lifestyle choice. The adage, Life's too short to be on the end of a broom!
The Managers, after 10 good years, are looking to move to 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 2025 Valuation, as prepared by Alison Sun at Accom Valuers.
Just so you know, the CCTV camera system is available on your mobile phone.
This is a low-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 for you!
Call Greg Jorgensen today on 0407 721 335 to discuss and receive the extensive documents package.
More Information
- Total Purchase Price: ONLY 5.15x the NOW $300K NET!
- Net Income: $ 302,110
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 780,000
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?