Ashgrove, Queensland

Solid Permanent MR with growth potentials in Ashgrove - Perfect For The First Time Manager

$1,250,000

Business Description

• 77% of the net income from Body Corporate remuneration
• Very supportive committee
• Low maintenance for this well-managed complex
• Potentials for growth in letting. Current 13 in the letting pool plus 2 outside of the complex.
• Low multiplier - 4.16
• Great location, just 5 km from Brisbane CBD, in a quiet cul-de-sac yet close to public transport, within proximity to parks and an easy walk to the Ashgrove Shopping Precinct.

Business Summary

Business Snapshot

Price: $1,250,000 Net Profit: $146,295 Remuneration / Body Corp Salary: $113,706Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $638,000Bedrooms: 2Bathrooms: 2Car Spaces: 3Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 68Total Units in Letting Pool: 15Owner Occupy Units: 43Outside Agent Units: 10Agreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesGym: YesBBQ Area: Yes
Marketing Agent
Lily Liao
Lily Liao

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

1. The business has a high net income, with 77% of it coming from Body Corporate remuneration.
2. The committee is very supportive, which can make for a smoother transition for a first-time manager.
3. The complex is well-managed and requires low maintenance.
4. There is potential for growth in the letting pool, with only 13 units currently in the pool and 2 units outside of the complex.
5. The multiplier is low at 4.16, making this a potentially good investment opportunity.
6. The location is highly desirable, being only 5 km from Brisbane CBD and close to public transport, parks, and shopping.
7. The manager's unit has a high value at $638,000 and includes 2 bedrooms, 2 bathrooms, and 3 car spaces.
8. The complex is permanent, with a total of 68 units and 15 units in the letting pool.
9. The agreement term is for 25 years with 18 years remaining.
10. The complex offers amenities such as a pool, gym, and BBQ area.

Management Rights Multiplier: 4.18
ROI Estimate: 23.90%

Listing location
Gallery

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