Helensvale, Queensland

Growth Opportunities

SOLD

Business Description

Healthy Body Corporate salary.

Plenty of opportunity for a smart operator to significantly improve income, given the number of outside agents currently letting properties within the complex.

Free standing 3 Bedroom, 4 car managers residence offered within this popular gated community.

Well located within proximity to major shopping centre and M1 highway.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $124,000 Remuneration / Body Corp Salary: $96,000Business Value: $605,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $425,000Bedrooms: 3Bathrooms: 2Car Spaces: 4Office: On TitlePets OK: Yes

Free standing house

Complex Information

Complex Type: PermanentTotal Units in Complex: 92Total Units in Letting Pool: 19Owner Occupy Units: 48Outside Agent Units: 24Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 18 yearsPool: YesBBQ Area: YesFunction Facilities: Yes

Other Features / Notes

Free standing Manager's residence with private yard and 4 car spaces

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

1. There is potential for increased income by taking on more outside agents to let properties within the complex.
2. The complex is located near a major shopping center and a major highway, providing convenience for residents and potential for growth.
3. The manager's residence is a free-standing 3 bedroom house with 4 car spaces, providing a comfortable living space for the manager.
4. The body corporate salary is currently at $96,000 and is subject to annual CPI reviews.
5. The manager's unit has a value of $425,000 and is included in the sale.
6. The complex is a permanent type with a total of 92 units, with 19 currently in the letting pool.
7. There are 48 owner-occupied units and 24 units currently managed by outside agents.
8. The agreement module is accommodation and has a remaining term of 18 years.
9. The complex features a pool, BBQ area, and function facilities for residents.
10. The manager's residence has a private yard and pets are allowed.

Management Rights Multiplier: 4.88
ROI Estimate: 12.04%