Chermside, Queensland
BUSINESS-ONLY DUO IN CENTRAL CHERMSIDE | Resort Brokers ID : MRB007723
$2,080,165
Business Description
The management rights to these two prominent mid-rise apartment complexes offers operators a secure net profit circa $300K and a big opportunity to increase the letting pool and grow the bottom line!
- Established, permament complexes
- 134 total units across both buildings
- Total letting pool of 33 units + 5 external lets
- Located on same street
- Body Corporate salary of $229,970
- No requirement to own or reside on-site
- No set office hours
- 21 and 18 years remaining on agreements
- Exclusive Use office spaces in both
- Net profit circa. $300,000 + over $20K in meter reading income
- Located walking distance to Westfield, parks & bus
Date updated: 26 Nov 2023 22:00:08
Business Summary
Business Snapshot
Price: $2,080,165
Net Profit: $330,185 Remuneration / Body Corp Salary: $229,970
Managers Unit
Complex Information
Complex Type: PermanentTotal Units in Complex: 132Total Units in Letting Pool: 33Holiday Units: 33Owner Occupy Units: 99Agreement Term Remaining: 21 years
Key Investment Insights
1. The management rights offer a secure net profit of approximately $300,000.
2. There is potential for growth and increasing the letting pool.
3. The complexes are established and permanent, providing stability for the business.
4. The total number of units in both buildings is 134.
5. The letting pool currently consists of 33 units, with an additional 5 external lets.
6. The complexes are located on the same street, making management convenient.
7. The body corporate salary is $229,970.
8. There is no requirement for the owner to reside on-site.
9. The business has no set office hours.
10. The agreements have 21 and 18 years remaining.
11. Both complexes have exclusive use office spaces.
12. There is an additional income of over $20,000 from meter reading.
13. The location is within walking distance to Westfield, parks, and bus stops.
