Currumbin, Queensland

Mixed Letting Management Rights in Currumbin - ID 8160

$1,855,000

Business Description

Management Rights For Sale
Famous Water Views

- 3 storey walk up complex of 72 apartments

- 24 apartments in the letting pool, 8 short term and 16 permanent

- Agreements recently topped up to 10 years

- Body Corporate salary of $130,000

- Heated pool, spa, BBQ and secure parking

- Complex has recently been painted, new Wi-Fi throughout

- Sinking fund balance of over $677,000

- Recently refurbished 3 bed, 2 bath manager's residence

- The residence has uniterrupted water views

- Office attached on title

The complex is located in Currumbin on the southern end of the Gold Coast, just a 15 minute walk to the patrolled beach. Easy access to the Airport, M1 Motorway, Currumbin Wildlife Sanctuary and the Tweed Coast.

Net Profit: $215,125
Asking Price: $1,855,000
(Inclusive of Manager's Real Estate)

For further information or to arrange an inspection of this Gold Coast Management Rights business for sale contact:

Management Rights Brokers
Phil Trimble & Gerard Dixon

Property Code: 897

Business Summary

Business Snapshot

Price: $1,855,000 Net Profit: $215,125 Remuneration / Body Corp Salary: $130,000

Managers Unit

Value of Managers Apartment: $995,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Great 3 bedroom residence, 2 bathrooms, Huge entertainer sized balcony overlooking the Currumin estuary and coastline. The residence has been renovated with new kitchen, main bathroom, painting and flooring, Parking for one vehicle and storage options for the manager. A pet is permitted with Body Corporate approval.

Complex Information

Complex Type: MixedTotal Units in Complex: 72Total Units in Letting Pool: 24Owner Occupy Units: 42Outside Agent Units: 2Lockup Units: 3Manager Units: 1Agreement Module: StandardAgreement Term: 10 yearsAgreement Term Remaining: 10 yearsPool: YesSpa: YesBBQ Area: Yes

Marketing Agent

Phil Trimble

Gerard Dixon

MR Sales

Key Investment Insights

1. 3 storey walk up complex with 72 apartments
2. 24 apartments in the letting pool, with a mix of short term and permanent rentals
3. Agreements recently topped up to 10 years
4. Body Corporate salary of $130,000
5. Amenities include a heated pool, spa, BBQ area, and secure parking
6. Complex has recently been painted and has new Wi-Fi throughout
7. Sinking fund balance of over $677,000
8. Recently refurbished 3 bed, 2 bath manager's residence with uninterrupted water views
9. Office attached on title
10. Located in Currumbin, a popular tourist destination on the southern end of the Gold Coast
11. Just a 15 minute walk to the patrolled beach
12. Easy access to the Airport, M1 Motorway, Currumbin Wildlife Sanctuary, and the Tweed Coast
13. Net profit of $215,125
14. Asking price of $1,855,000 (inclusive of manager's real estate)
15. Opportunity for further growth and development in the popular Gold Coast market.

Management Rights Multiplier: 4.00
ROI Estimate: 25.01%