Biggera Waters, Queensland

Rare Opportunity to own 50% of a High Net Profit MR Business with Manager Unit in GC

$2,990,000

Business Description

• Please note, the total asking price includes the Manager Unit & the whole business
• With a rare open option to own 50% of this thriving MR Business plus the Manager Unit.
• 129 apartments and 29 townhouses in an immaculately presented complex with 56 in the letting pool plus 3 lettings outside
• Annual net profit over $405K inclusive of a generous $228,512 BC remuneration
• A huge potential for the pro-active manager to increase profitability with 15 lots currently in the hands of outside agents that could be brought into your letting pool.
• Long term 25 years agreement with 21 years remaining.
• No set office hours; No requirement to live onsite.
• Perfectly located, only a short stroll to the Broadwater and essential amenities, short drive to Harbour Town, Theme Parks and Australia Fair

Business Summary

Business Snapshot

Price: $2,990,000 Net Profit: $405,027 Remuneration / Body Corp Salary: $228,512Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $750,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 158Total Units in Letting Pool: 59Owner Occupy Units: 87Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: YesSpa: YesGym: YesBBQ Area: Yes

Marketing Agent

CeCe Chen

0450 45....

Leo Liu

0467 57....

Onsite Management Rights

Key Investment Insights

1. Rare opportunity to own 50% of a highly profitable MR business and manager unit.
2. Immaculately presented complex with 129 apartments and 29 townhouses.
3. 56 units in the letting pool with potential to increase profitability by bringing in 15 more units.
4. Annual net profit of over $405K, including a generous $228,512 BC remuneration.
5. Long term 25-year agreement with 21 years remaining.
6. No set office hours and no requirement to live onsite.
7. Perfectly located near essential amenities and popular attractions.
8. Manager's unit valued at $750,000 with 3 bedrooms, 2 bathrooms, and 2 car spaces.
9. Complex type is permanent with a total of 158 units and 59 in the letting pool.
10. Agreement module is accommodation with a term of 25 years.
11. Facilities include a pool, spa, gym, and BBQ area.

Management Rights Multiplier: 5.53
ROI Estimate: 18.08%