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%