Doolandella, Queensland

Netting Over $218K, Best Complex In Doolandella

SOLD

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: SOLD 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: 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

Key Insights:
1. The business is currently generating a net profit of $218,568, making it a profitable investment opportunity.
2. The vendor is motivated to sell due to retirement, indicating a potential for negotiation on the sale price.
3. The business does not require the owners to live onsite and has no set office hours, providing flexibility for the owners.
4. The complex is well managed and has established grounds, indicating a high level of professionalism and attention to detail.
5. The location of the complex is convenient, with close proximity to public transport, shops, childcare, and schools.
6. There is potential to increase the letting pool, which could lead to higher profits.
7. The complex has a total of 60 units in the letting pool, including 14 lettings outside the complex.
8. The managers' unit has a value of $430,000 and includes 3 bedrooms, 2 bathrooms, and 1 car space.
9. The complex is classified as a permanent complex and operates under an accommodation agreement module with a remaining term of 24 years.
10. The complex has a pool, providing added amenities for tenants.

Management Rights Multiplier: 5.49
ROI Estimate: 18.21%

Listing location
Gallery

This Business is sold

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