Coombabah, Queensland

Caretaking Only Business $305,000 Real Estate $640,000

$945,000

Business Description

An immaculately well-maintained Caretaking residential complex located on Oxley Drive, Coombabah. The suburb boasts one of the best locations on the Gold Coast, being within easy reach of several shopping centres, schools, theme parks, and beaches. Runaway Vista is a mere 15-minute drive to Surfers Paradise and five minutes to the Pacific Highway.

The complex comprises 48 townhouses run as Caretaking Only With No Licence Required. It is spacious and peaceful, with facilities including a pool, tennis court, a barbecue area surrounded by gardens, and plenty of visitor parking.

Despite a healthy Body Corporate Salary of $76,477, the caretaking work is minimal and easy to manage. The current management has established the gardens require little maintenance. There are no set office hours, and the admin work is minimal.
One part-time person can manage the workload with an accessible common area to maintain.

The manager's unit is a renovated good-sized three-bedroom, two-bathroom townhouse with an open-plan living/dining/kitchen area, a large attached office that can double as a fourth bedroom, SLUG (Single Lock-Up Garage), and an outside area with a covered patio and solar panels. There is also plenty of storage on the occupational authority.

The new managers will inherit an excellent Body Corporate relationship, as demonstrated by recently topped-up agreements and Gallery Vie included.
This management rights opportunity would be ideal for a semi-retired couple looking for a secure income and plenty of free time. Or a family looking for a second income and a good family home. The value is excellent, and the asking price provides a high return on the investment. Rarely will you find a management right of this calibre.

Business Summary

Business Snapshot

Price: $945,000 Net Profit: $76,477 Remuneration / Body Corp Salary: $76,477

Managers Unit

Value of Managers Apartment: $640,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 48Agreement Term: 25 yearsAgreement Term Remaining: 19 years
Marketing Agent
Paul Mueller
Paul Mueller

RAAS Property Group

RAAS Property Group

Key Investment Insights

Key insights:

1. Prime location in Coombabah, one of the best suburbs on the Gold Coast, with easy access to shopping centres, schools, theme parks, and beaches.
2. Well-maintained complex with 48 townhouses and facilities including a pool, tennis court, and barbecue area.
3. Caretaking only business with no license required, making it easy to manage with minimal work.
4. Healthy Body Corporate Salary of $76,477, with minimal caretaking work and no set office hours.
5. Manager's unit is a renovated three-bedroom townhouse with an attached office and plenty of storage.
6. Excellent Body Corporate relationship and recently topped-up agreements.
7. Ideal for a semi-retired couple or family looking for a secure income and free time.
8. High return on investment and rare opportunity to acquire a management right of this calibre.
9. Asking price of $945,000 includes the business and real estate, with the managers unit valued at $640,000.
10. Permanent complex with a 25-year agreement term and 19 years remaining.

Management Rights Multiplier: 3.99
ROI Estimate: 25.07%

Listing location
Gallery

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