Key Investment Insights
1. The business is a corporate let with rental units in the pool.
2. The current owner needs to sell due to the impact of COVID-19 on the business.
3. The complex is located in Auchenflower and has both river and city views.
4. The income used to be three times the current amount with a generous BC salary.
5. There is little work involved and can be easily managed by one person.
6. The owner must live on site, but there are no office hours and the office is for exclusive use.
7. The complex is currently converting back to short term rentals and the P&L is improving.
8. The business has a net profit of $107,389 and a remuneration/body corp salary of $68,400.
9. The manager's apartment is valued at $569,000 and has 2 bedrooms, 2 bathrooms, and 1 car space.
10. The complex has a total of 28 units, with 8 in the letting pool, 16 owner-occupied units, and 2 units managed by outside agents.
11. The agreement term is 25 years, with 20 years remaining.
Management Rights Multiplier: 2.99
ROI Estimate: 33.45%
