Key Investment Insights
1. Asking price $975,000, seller motivated with a reduced price for a quick sale.
2. Reported net profit $83,000 plus reported remuneration/body corporate salary $90,743.
3. Managers apartment included and valued at approximately $810,000 to $800,000+, three bedrooms, two bathrooms, double garage.
4. Business value component stated as $165,000, with the sale inclusive of the manager’s real estate.
5. 25 year caretaking agreement originally, with 16 years remaining, accommodation agreement module.
6. Complex of 46 units, high owner-occupancy with 37 owner-occupy units and eight outside agent units.
7. Low-skill caretaking duties specified, including lawn mowing, gardening, pool and BBQ cleaning, and liaising with tradespeople.
8. Upside for a more skilled handyman or tradesperson who could earn considerably more than the caretaking salary.
9. Manager’s residence features a separate on-title office and an attached office with private entrance, supporting home-based business management.
10. Prime Hervey Bay location, gated quiet community, walkable to shops, club and waterfront, and one of the largest pools in the Bay.
Management Rights Multiplier: 1.99
ROI Estimate: 8.51%