Bungalow, Queensland

Profitable Opportunity in Spence – ID 9206

$850,000

Business Description

Permanent Management Rights for Sale
Live, Work & Earn in Tropical North Queensland

- Well-maintained residential complex in a high-demand rental area

- No set office hours – flexibility and autonomy

- Strong income from 11 units in letting units plus in excess of $108,000 in caretaking agreement salary

- Consistent occupancy and low vacancy rates

- Excellent Body Corporate relationship

- 2br Comfortable manager’s unit included

- Office on Title attached to Residence

- 5 minutes from CBD

- Tropical Climate, Laid back Lifestyle and strong local Economy

- 17 Years left on agreement, so can be bank financed

Net Profit: $106,000
Asking Price: $850,000
(Inclusive of Managers Real Estate, $390,0000 MR and $460,000 RE)
For further information or to arrange an inspection of this business opportunity contact:
Management Rights Broker
Antonio Curulli

Property Code: 1040

Business Summary

Business Snapshot

Price: $850,000 Net Profit: $106,000 Remuneration / Body Corp Salary: $108,048

Managers Unit

Value of Managers Apartment: $460,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Office: OtherPets OK: Yes

Ground floor two-bedroom, two-bathroom apartment with one-car space and attached office.

Complex Information

Complex Type: PermanentTotal Units in Complex: 48Total Units in Letting Pool: 11Owner Occupy Units: 21Outside Agent Units: 14Lockup Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term Remaining: 17 yearsPool: YesSpa: YesBBQ Area: YesPay TV: YesWIFI: Yes

Marketing Agent

Antonio Curulli

MR Sales

Key Investment Insights

1. Profitable established business, reported net profit $106,000 per year.
2. Asking price $850,000, with sale inclusive of Managers Real Estate $390,0000 and Real Estate $460,000.
3. Strong recurring remuneration from caretaking agreement, listed at $108,048 per year.
4. Revenue base includes 11 letting units in the complex, plus caretaking salary.
5. Long secure agreement term remaining, 17 years, enabling bank finance.
6. Manager’s 2 bedroom, 2 bathroom ground floor apartment included, valued at $460,000, with attached office and one car space.
7. Office on title attached to residence, providing on-site workspace and live‑work convenience.
8. Excellent Body Corporate relationship, reported consistent occupancy and low vacancy rates.
9. Complex amenities include pool, spa, BBQ area, Pay TV and WiFi, enhancing tenant appeal.
10. Complex scale and composition: 48 total units, 21 owner occupied, 14 with outside agents, 1 lockup unit, indicating a mixed and stable ownership profile.
11. Prime location attributes, five minutes from the CBD, tropical climate, laid back lifestyle and strong local economy supporting rental demand.
12. Flexible operational model with no set office hours, offering autonomy for managers.

Management Rights Multiplier: 3.68
ROI Estimate: 27.18%