Benowa, Queensland

Solid Benowa Permanent

SOLD

Business Description

With 23 years left to run on Agreements coupled with a great location only a few minutes drive to Surfers Paradise, this is a business worthy of your earliest inspection.

Low maintenance gardens and easily managed common areas are a bonus for the onsite manager. With a spacious and comfortable four bedroom manager’s residence, a stroll to Shopping Centre, Hospital and Schools, this townhouse complex offers a wonderful work/life balance opportunity which could be operated by one person.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $95,500 Remuneration / Body Corp Salary: $72,590Business Value: $457,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $498,000Bedrooms: 4Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes

Terrific family living in this large townhouse

Complex Information

Complex Type: PermanentTotal Units in Complex: 61Total Units in Letting Pool: 9Owner Occupy Units: 39Outside Agent Units: 12Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesTennis Court: YesPay TV: Yes

Other Features / Notes

Pool, BBQ, Tennis Court

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. The business is located in a desirable area, only a few minutes drive from Surfers Paradise.
2. The complex has 23 years remaining on the agreements, providing long-term stability for the new owner.
3. The low maintenance gardens and common areas make the business easy to manage.
4. The manager's residence is spacious and comfortable, with four bedrooms.
5. The complex is within walking distance to a shopping center, hospital, and schools.
6. The business offers a great work/life balance opportunity, suitable for one person to operate.
7. The net profit for the business is $95,500, providing a good income for the owner.
8. The body corporate salary is $72,590 and is reviewed annually.
9. The manager's apartment has a value of $498,000.
10. The complex is a permanent type, with a total of 61 units.
11. There are currently 9 units in the letting pool, with 39 owner-occupied units and 12 units managed by outside agents.
12. The agreement module is accommodation, with a term of 25 years.
13. The complex has amenities such as a pool, BBQ, and tennis court.
14. Pets are allowed in the manager's residence.
15. Other features include pay TV and a tennis court.

Management Rights Multiplier: 4.79
ROI Estimate: 10.00%