Currumbin, Queensland

Income Increased and 2.9 Multiplier- Absolute Beachfront !

$1,360,000

Business Description

2.9 MULITPLIER - PRICED TO SELL - Live on Beautiful Currumbin beach, walk out and hop on the pathway to North and South Gold Coast. Great lifestyle and fitness opportunities...(or not) :-). Body Corporate have spent alot of $$ on resurfacing the pool and glass balustrade throughout. Fully renovated Managers apartment and renovated to perfection, a lot of $$ has been spent and its beautiful and beachy. 13 in the letting its a handy income of over 174K income. Office is unattached from unit so just that extra bit of privacy. Owners selling due to ill health. Just got another unit in the letting, so will add another 10K to the net (that you don't pay for :-).
Office is exclusive use.
Very much worth a look, please phone Kerrie Lush ---------- .

Business Summary

Business Snapshot

Price: $1,360,000 Net Profit: $174,000 Remuneration / Body Corp Salary: $44,082

Managers Unit

Value of Managers Apartment: $840,000Bedrooms: 2Bathrooms: 2Car Spaces: 1

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 26Total Units in Letting Pool: 12Owner Occupy Units: 11Outside Agent Units: 3Lockup Units: 5Agreement Term: 25 yearsAgreement Term Remaining: 18 years
Marketing Agent

Key Investment Insights

1. The business is located in a highly desirable area, with absolute beachfront access and close proximity to popular Gold Coast destinations.
2. The income of the business has increased, making it a promising investment opportunity.
3. The business has a low multiplier of 2.9, making it attractively priced for potential buyers.
4. The complex has recently undergone renovations, including resurfacing of the pool and installation of new glass balustrades.
5. The manager's apartment has also been fully renovated and is in excellent condition.
6. The business has a total of 13 units in the letting pool, with the potential to add more.
7. The office is separate from the manager's unit, providing privacy for the manager.
8. The current owners are selling due to ill health, making it a motivated sale.
9. The business has a high net profit of $174,000, providing a steady income for the manager.
10. The manager's unit is valued at $840,000, providing a comfortable living space for the manager.
11. The complex is a resort/holiday type, with a total of 26 units and a mix of owner-occupied and lockup units.
12. The management agreement has a remaining term of 18 years, providing long-term stability for the manager.
13. The complex has a low number of outside agent units, providing more opportunities for the manager to generate income.
14. The business is exclusive use, providing a sense of ownership and control for the manager.
15. The business is worth considering for its location, income potential, and attractive pricing.

Management Rights Multiplier: 2.99
ROI Estimate: 33.46%

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