Carindale, Queensland

Superb Location

SOLD

Business Description

This business offers a generous Body Corporate Salary.

20 years remain on management agreements and with the added benefits of such a wonderfully situated community this business is an extremely attractive buy.

Highly sought after residential complex conveniently located close to Belmont State School, Westfield, public transport, Bulimba Creek bikeways and Belmont Hills Nature Reserve. And only a couple of minutes drive to the Gateway Motorway.

Managers residence is a beautifully appointed 3 bedroom, 2.5 bathroom, 2 car garage townhouse.

Act now. Contact us for an inspection before you miss this golden opportunity.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $204,000 Remuneration / Body Corp Salary: $133,800Business Value: $1,159,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $587,000Bedrooms: 3Bathrooms: 3Car Spaces: 2Office: On TitlePets OK: Yes

Townhouse, 3 bedroom, 2.5 bathroom, 2 Car Garage

Complex Information

Complex Type: PermanentTotal Units in Complex: 91Total Units in Letting Pool: 39Owner Occupy Units: 50Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 20 yearsPool: YesBBQ Area: YesPay TV: YesFunction Facilities: Yes

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

AI generated. Confirm details with the seller.

1. The business is located in a highly sought after residential complex with a superb location.
2. The management agreements have 20 years remaining, providing stability and long-term potential for the buyer.
3. The complex is conveniently located near schools, shopping centers, public transport, and recreational areas.
4. The manager's residence is a spacious and well-appointed 3 bedroom townhouse.
5. The business offers a generous Body Corporate Salary, providing a steady income for the manager.
6. The Body Corporate Salary is subject to annual CPI reviews, ensuring potential for growth.
7. The manager's unit has a value of $587,000, making it a valuable asset for the buyer.
8. The complex is a permanent type, providing a stable and consistent income stream.
9. The complex has a total of 91 units, with 39 units in the letting pool and 50 owner-occupied units.
10. The agreement module is Accommodation, providing flexibility for the manager.
11. The agreement term is 25 years, with 20 years remaining, providing long-term stability for the buyer.
12. The complex offers amenities such as a pool, BBQ area, pay TV, and function facilities, making it attractive to potential tenants.
13. The manager is allowed to have pets, providing a comfortable living environment for the manager.
14. The business is a great opportunity for potential buyers to act quickly before it is sold.

Management Rights Multiplier: 5.68
ROI Estimate: 11.68%