Modern townhouse gem, strong net profit over $300k | Resort Brokers ID : MR008171
$2,350,000
Permanent Management Rights, Mango Hill QLD
Established in 2021 by the owners, this management rights business comprises 79 townhouses developed by Phillip Usher Constructions. Designed to maximise investor appeal and minimise caretaking requirements, the complex is superbly run with 69 units in the letting pool and two external rentals nearby. It boasts landscaped gardens but no pool, with only a small gym and minimal lawns.
With 25-year agreements and no set office hours, this complex offers incoming buyers the security of long tenure. It presents a strong investor-led business, supported by a Body Corporate salary of $112,451.
The business has experienced strong rental increases, which will enhance future profitability for the incoming owner. A magnificent free-standing 4-bedroom, 2-bathroom manager's residence with an attached office allows for comfortable living and conducting business.
Selling for a very attractive multiplier of 5.6x for a net operating profit over $300k, this opportunity is not to be missed.
- Mid-scale townhouse complex with 79 units
- Strong letting pool with 71 units under management
- No set office hours, providing flexibility for the incoming operator
- Body Corporate salary of $112,451 per annum, with an annual CPI or 3% increase (whichever is greater)
- 22 years remaining on Accommodation Module Agreements
- Small, supportive committee, all living off-site
- Spacious and modern 4-bedroom, 2-bathroom manager's unit priced at $630,000
- Substantial net profit exceeding $300,000
- Minimal on-site facilities, with a gym only
- Inspections by appointment only
Date updated: 21 Apr 2024 23:00:09
More Information
- Total Purchase Price: $2,350,000
- Net Income: $ 309,183
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 630,000
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?