Norman Park MR at only 3.5x! Good Buying!
MLR Apartment
Permanent management rights, Norman Park QLD
Wattle Hill, a 40 unit complex in Norma Park, was built 18 years ago and has been very well maintained - presents well!
What's on offer is the manager's 3 bedroom apartment, management & letting rights with a letting pool plus 15 external managements.
An excellent apartment and home to live!
Here's the breakup in more detail:
Apartment: $1,100,000
Standard Business Net profit: $86,420
Multiplier: Only 3.5x
Standard Business Price: $300,000
External Management's Income: $37,127
Multiplier: Only 2.0x
External Management Price: $74,000
Total Package: $1,474,000
Happy to discuss any questions or queries on this business and or real estate, just call Greg Jorgensen on 0407721335.
More Information
- Total Purchase Price: MLR Apartment
- Net Income: $ 123,547
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 1,100,000
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?