Cleveland, Queensland
$165k Nett Profit Business Only in Cleveland
Price Reduced Now only $599.9k @ 3.7x
Business Description
This is a rare chance to secure the business-only management rights to Island Park Gardens, a well-established townhouse community in Cleveland. With 75 townhouses in the complex, 13 in the letting pool, and a further 14 external properties under management, this business offers both scale and diversity of income.
⚙️ The streamlined operation is highly efficient, with the caretaking workload well matched to the generous Body Corporate salary. The numbers tell the story:
💰 Net Profit: $165,000 (approx)
💵 Asking Price: $599,999 (3.63x multiple)
📈 ROI: approx. 27.5%
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current owner does not sell
ADD REAL ESTATE SALES
7 Sales in last 12 months
Average Price $750,000
Potential Commission $100k plus
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📝 The agreements were topped up in 2024 to 10 years and have 8 years remaining, and with the manager’s unit now decoupled, this is a pure business-only opportunity. The move was strongly supported by the Body Corporate committee – ensuring long-term stability and alignment with the incoming manager.
The included equipment has been thoughtfully built up by the current owner with the purpose of efficient work, so overheads are kept to a minimum. This makes Island Park Gardens an excellent option for either an experienced operator seeking a low-maintenance business or a first-time buyer looking for security and strong returns.
🌊 Cleveland itself is a thriving bay side location, prized for its lifestyle, amenities, and easy access to Brisbane. Opportunities of this calibre in the Redlands are tightly held and rarely offered to market.
🔑 Key Highlights
🏢 Business only – no unit purchase required
⏳ Recently topped up to 10 years
🤝 Fully supportive committee
💼 Generous Body Corporate salary with manageable workload
💰 Nett Profit: $162k
💵 Asking Price: $599k (3.7x multiple)
Island Park Gardens represents an outstanding blend of lifestyle and income. With long agreements, minimal overheads, and excellent returns, this is a standout business in today’s market.
** Ras360 Property Solutions – Specialists in Management Rights | Motels | Hotels | Pubs | Parks **
The External Letting is all in the same region and are all long term tenants that are easily managed
*The accountant-prepared Profit & Loss Statement for 2025 shows a net profit of $162,169 for the business, including income from external letting income. The net profit for the complex has been priced at a 3.87x multiplier, and the external letting income has been priced separately at a 2.5x multiplier. This gives a total business price equal to a blended multiple of 3.7x net profit. All offers should be submitted on the basis of this calculation, with the understanding that the external letting income has already been taken into account when setting the listing price.
** The advertised Salary and Income are adjusted for the recent January 2026 salary increase
Business Summary
Business Snapshot
Price: Price Reduced Now only $599.9k @ 3.7x
Net Profit: $165,000 Remuneration / Body Corp Salary: $130,000
Complex Information
Complex Type: PermanentTotal Units in Complex: 75Total Units in Letting Pool: 13Owner Occupy Units: 57Agreement Term: 10 yearsAgreement Term Remaining: 8 years
Key Investment Insights
1. Net profit circa $162k–$165k, verified by an accountant-prepared P&L for 2025.
2. Asking price $599,999–$599.9k, implied blended multiple approximately 3.7x net profit.
3. Approximate ROI reported at 27.5%, indicating strong cash return relative to price.
4. Remuneration Body Corporate salary $130,000, representing the majority of owner income.
5. Business-only sale with manager’s unit decoupled, no property purchase required.
6. Agreements recently topped up to 10 years, with 8 years remaining, providing long-term contract stability.
7. Fully supportive Body Corporate committee, noted as a positive governance factor.
8. Complex scale: 75 townhouses, 13 in the letting pool, and a further 14 external properties under management.
9. External letting income comprises long-term tenants in the same region, priced separately in the valuation.
10. Included specialised equipment and lean operations yield low overheads and a manageable caretaking workload.
11. Cleveland location offers bayside lifestyle, amenities and easy access to Brisbane, enhancing tenant and market appeal.
12. Upside opportunity from real estate sales activity, 7 sales in last 12 months at average $750,000, potential commission in excess of $100k.
