Coombabah, Queensland

Easy to Run Permanent Management Rights in Coombabah

$910,000

Business Description

Peacefully located in Coombabah the management rights includes a 3-bedroom 2-bathroom low set home with plenty of room for the family.

The 59-townhouse complex has grounds easy manageable by one person including a pool and tennis court.

With 11 in the letting pool and a body corporate salary of $82,843 means there is plenty of upside opportunity for a handy person willing to take on more to build up additional profit plus work on bringing the 11 units managed by outside agents back into the pool.

The complex is centrally located with easy access to Runaway Bay, Harbourtown for shopping, the Broadwater/Labrador for leisure & entertainment activities and the M1 for transport.

Ideal for the first timer or a couple looking to downsize their workload and live in a quiet bushland setting it would allow their partner to maintain external work if necessary.

Business Summary

Business Snapshot

Price: $910,000 Net Profit: $89,146 Remuneration / Body Corp Salary: $82,843

Managers Unit

Value of Managers Apartment: $550,000Bedrooms: 3Bathrooms: 2Car Spaces: 3

Complex Information

Complex Type: PermanentTotal Units in Complex: 59Total Units in Letting Pool: 11Owner Occupy Units: 38Outside Agent Units: 10Agreement Term: 10 yearsAgreement Term Remaining: 5 years

Marketing Agent

Paul Mueller

0439 25....

Laura Langford

0401 12....

Ras360

Key Investment Insights

1. Peaceful location in Coombabah with a 3-bedroom, 2-bathroom low set home included in the management rights.
2. Easy to manage complex with only 11 units in the letting pool and manageable grounds.
3. Potential for additional profit by taking on more units and bringing back units managed by outside agents.
4. Centrally located with easy access to shopping, leisure activities, and transportation.
5. Ideal for first-time managers or a couple looking to downsize their workload.
6. Manager's apartment valued at $550,000.
7. Permanent complex with 59 units, 11 in the letting pool, and 38 owner-occupied units.
8. 10-year agreement with 5 years remaining.
9. Net profit of $89,146 and body corporate salary of $82,843.
10. Opportunity for partner to maintain external work if necessary.

Management Rights Multiplier: 4.04
ROI Estimate: 9.80%