Key Investment Insights
1. Corporate let with rental units in the pool, all currently back to corporate after changing to permanent.
2. Corvid has negatively impacted the business and the bank is pressuring the owner to sell.
3. All form 6 have both short and long term stated.
4. Income used to be three times the current amount with a generous BC salary.
5. Little work involved and easily handled by one person.
6. On-site living required, but no office hours and exclusive use of office and storage.
7. Located in the heart of Auchenflower with river and city views.
8. Currently converting back to short term rentals and P&L is improving.
9. Managers unit valued at $569,000 with 2 bedrooms, 2 bathrooms, and 1 car space.
10. Complex is permanent with 28 total units, 8 in the letting pool, 8 holiday units, 16 owner-occupied units, and 2 outside agent units.
11. Agreement term is 25 years with 20 years remaining.
Management Rights Multiplier: 2.99
ROI Estimate: 33.45%