Algester, Queensland

MANAGEMENT RIGHTS.. HOME & BUSINESS OPPORTUNITY

SOLD

Business Description

This is a gated complex located in Algester and provides the manager with a very good salary, increasing by CPI per annum, and brand new 25 year Agreements. Current Manager has been in situ for the past 10 years and now looking to retire.
The grounds are in a good and presentable condition while the swimming pool area has recently had a make over and pool refurbishment. All equipment to maintain the complex is owned by the Body C.orporate.
The 3 bedroom rental units are large in size making them popular with tenants. The location is quiet and a few minutes walk to the #130 city bound bus.
There are also 3 rental properties (2 houses and 1 Unit) in nearby suburbs managed by the current Manager also making a total of 17 rentals in the business. The income from these outside rentals is included in the P & L

The managers unit is a 3 bedroom, 2 bathroom low set villa with street frontage. The back yard provides for privacy and covered patio out-door living area. There is a single lock-up garage, an extra parking space and a large office for running the business.
Unit $355,000, Business $620,000. Total asking price $975,000 .
Please contact Jim Prentice ---------- or Email ---------- more infromation

Business Summary

Business Snapshot

Price: SOLD Net Profit: $130,000 Remuneration / Body Corp Salary: $105,722

Managers Unit

Value of Managers Apartment: $355,000Bedrooms: 3

Complex Information

Complex Type: PermanentTotal Units in Complex: 49Total Units in Letting Pool: 14Owner Occupy Units: 25Agreement Term Remaining: 25 years from February 2018 years

Marketing Agent

Jim Prentice

Ras360

Key Investment Insights

Key Insights:

1. Gated complex with a good salary and brand new 25 year Agreements.
2. Current Manager has been in situ for the past 10 years and now looking to retire.
3. Grounds are in good and presentable condition with recently renovated swimming pool area.
4. All equipment to maintain the complex is owned by the Body Corporate.
5. Large 3 bedroom rental units make them popular with tenants.
6. Quiet location with easy access to public transportation.
7. Additional income from managing 3 rental properties in nearby suburbs.
8. Manager's unit is a 3 bedroom, 2 bathroom low set villa with street frontage.
9. Backyard provides privacy and covered patio for outdoor living.
10. Single lock-up garage, extra parking space, and large office for running the business.
11. Total asking price of $975,000 for unit and business.
12. Net profit of $130,000 and remuneration/body corp salary of $105,722.
13. Permanent complex with 49 units, 14 units in the letting pool, and 25 owner-occupied units.
14. Agreement term remaining for 25 years from February 2018.

Management Rights Multiplier: 4.77
ROI Estimate: 20.97%