Calamvale, Queensland

TWO FANTASTIC PERMANENT MLR IN HIGHLY SOUGHT AFTER SOUTHSIDE SUBURB - CALAMVALE | Resort Brokers ID : MR007863

$1,160,000

Business Description

Situated in the highly desirable south side area- Calamvale. On offer is a rare opportunity to purchase two fantastic permanent Management Rights businesses within close proximity (only 3 min drive) with no requirement to live onsite and no set office hours so the incoming operator can enjoy the freedom and flexibility supported by the agreement to suit their circumstances in how they prefer to operate this business over time. Currently, the manager's unit is rented out and generates an extra rental income of $28,600/year.

These well-established townhouse complexes have a great set-up in place with no community gate and the workload is very manageable by a single operator. The only facility is a small swimming pool which is serviced and maintained by the contractor paid by the Body Corporate. The body corporate is very friendly and has always been very supportive of the manager throughout all these years. There have never been any other committee meetings held apart from the AGM (once a year).

Consisting of a strong Body Corporate salary of $80,252 representing over 80% of the income, this management rights has an excellent base to work from and provides a stable income to the incoming purchaser, suitable for a first-time buyer looking to secure a stable low maintenance business or an experienced operator who wants to expand their portfolio.

The business is based on a 25-year Caretaking and Letting Agreement with 23 and 20 years remaining on the agreement following the successful top up which shows a very healthy and supportive body corporate relationship.

- No requirement to live onsite
- Attached office with no set office hours
- Modern permanent townhouse complexes
- No community gate
- Long agreement terms
- 23 years and 20 years
- Minimal workload easily managed by one person
- Very friendly and supportive body corporate
- Located in highly sought-after south side area with high rental demand
- Upside potential through additional income streams
- Suitable for either first time buyer or experience operator as add-on to their existing portfolio
- Property inspections are strictly by appointment only
- Please contact Jessie Shi today as this type of MR business is in high demand and will not last long on the market!
Date updated: 01 Dec 2023 00:00:06

Business Summary

Business Snapshot

Price: $1,160,000 Net Profit: $102,740 Remuneration / Body Corp Salary: $80,252

Managers Unit

Value of Managers Apartment: $590,000Bedrooms: 3Bathrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 49Total Units in Letting Pool: 23Holiday Units: 23Agreement Term Remaining: 23 years

Marketing Agent

Jessie Shi

ResortBrokers

Key Investment Insights

1. Highly desirable location in the sought-after south side area of Calamvale
2. Two well-established townhouse complexes with no community gate
3. No requirement to live onsite and no set office hours
4. Long agreement terms of 23 years and 20 years
5. Strong Body Corporate salary representing over 80% of income
6. Minimal workload easily managed by one person
7. Very friendly and supportive body corporate
8. Upside potential through additional income streams
9. Suitable for first-time buyer or experienced operator looking to expand their portfolio
10. Modern and well-maintained permanent townhouse complexes
11. High rental demand in the area
12. Property inspections are strictly by appointment only
13. Managers apartment valued at $595,000 with 3 bedrooms and 2 bathrooms
14. Total of 58 units in the complex with 14 in the letting pool
15. Net profit of $108,719 and remuneration/Body Corp salary of $87,392.

Management Rights Multiplier: 5.55
ROI Estimate: 18.02%