Caloundra, Queensland
Joanne Apartments Management Rights For Sale
SOLD
Business Description
What a magic spot to start your management rights business, look across to Pumicestone Passage in Bulcock Beach and a short distance walk to the water and parklands.
The Complex has 2 buildings with 18 units in each, 2 resort-style pools with ocean views from many units.
36 Quality apartments, 24 in the letting pool
High-demand rentals that return well
Combined net $230k
Multiplier 3.2
9 years to run
Nice Managers Salary $62,318
Tidy open plan ground floor 1 bed managers unit valued at $550,000
Business Summary
Key Investment Insights
1. The management rights business is located in a highly desirable and picturesque location, with views of Pumicestone Passage and close proximity to the beach and parklands.
2. The business includes two buildings with a total of 36 quality apartments, with 24 currently in the letting pool.
3. The rental demand for the apartments is high, resulting in a strong return for the business.
4. The combined net income for the business is $230,000, with a multiplier of 3.2.
5. There are 9 years remaining on the management rights contract.
6. The managers unit is a tidy and open plan 1 bedroom unit, valued at $550,000.
7. The managers salary is a nice amount at $62,318.
8. The complex has resort-style amenities, including 2 pools with ocean views.
9. The business has potential for growth and increased profitability.
10. The location and amenities make this business an attractive option for potential buyers.
