Balmain, New South Wales

Rare Sydney City Fringe Permanent Management Rights | Resort Brokers ID : MR007643

$3,328,108

Business Description

This Management Rights property offers a lucrative return for an astute operator ready to swoop in and secure an efficiently run business with strong upside opportunity to grow the letting pool.

Ideally located on the city fringe, just minutes from the CBD, be quick to enquire about this genuine ‘business only’ opportunity!

- Enviable Sydney suburb location under 5km to the CBD
- 207 apartments, with 123 in letting pool
- Long tenure on agreements (24 years letting + 9 years caretaking)
- Manager's office on freehold title includes reception & office space, 1 x carspace and storage
- No facilities or gardens to maintain, outsourced to contractors
- Incredible $368,207 Body Corporate salary
- Freehold office underpins security of letting pool with option to run a real estate agency if desired
- Solid letting income with plenty of potential to expand the letting pool
- Inspection by appointment only
Date updated: 09 Jun 2024 23:00:11

Business Summary

Business Snapshot

Price: $3,328,108 Net Profit: $596,565 Remuneration / Body Corp Salary: $368,207

Managers Unit

Value of Managers Apartment: $750,000Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 207Total Units in Letting Pool: 125Owner Occupy Units: 77Outside Agent Units: 25Agreement Term Remaining: 24 years
Marketing Agent
Jacqueline Featherby
Jacqueline Featherby

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