Doolandella, Queensland

Netting Over $218K, Best Complex In Doolandella

$1,630,000

Business Description

• Motivated vendor keen to sell for retirement
• Not required to live onsite. No set office hours
• Only 3 committee members, none lives onsite.
• Impressively well managed and established grounds
• Close to public transport, shops, childcare and schools
• Potentials to increase letting pool. Super easy to find tenants
• Total 60 in letting pool, including 14 lettings outside the Complex.

Business Summary

Business Snapshot

Price: $1,630,000 Net Profit: $218,568 Remuneration / Body Corp Salary: $86,400Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $430,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 60Total Units in Letting Pool: 60Permanent Units: 60Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: Yes
Marketing Agent
CeCe Chen
CeCe Chen

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

1. The business is well-managed and has a strong established grounds.
2. The complex is conveniently located near public transport, shops, childcare, and schools.
3. The current owner is motivated to sell for retirement.
4. The business does not require the owner to live onsite and has no set office hours.
5. The complex has a low number of committee members and none live onsite.
6. There is potential to increase the letting pool and it is easy to find tenants.
7. The complex has a total of 60 units in the letting pool, including 14 lettings outside the complex.
8. The net profit for the business is over $218,000.
9. The remuneration/body corp salary is $86,400 and is reviewed annually.
10. The manager's unit is valued at $430,000 and has 3 bedrooms, 2 bathrooms, and 1 car space.
11. The complex is classified as permanent and has a total of 60 units.
12. The agreement module is accommodation and has a term of 25 years, with 24 years remaining.
13. The complex has a pool.

Management Rights Multiplier: 5.49
ROI Estimate: 18.21%

Listing location
Gallery

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