Labrador, Queensland

100% Permanent Management Rights Labrador Great location close to the Broadwater

$670,000

Business Description

This 100% permanent complex is only 100m to Broadwater walking trails plus dining and entertainment venues and be ideal for a couple looking for an easy work/life balance.

Labrador is central to all the major shopping, education and tourist hotspots on the coast, so it is a great location.

The complex has 28 units with a letting pool of 8 and is easily run with low maintenance tropical gardens and easy-care surrounds and pool/BBQ deck. With 10 outside agents there is ample scope for increasing the net yearly income.

The manager's unit is a comfortable 2 bed 1 bath with a private covered courtyard off the living room ideal for relaxing.

There are no fixed hours required - the manager just needs to be contactable during business hours, and with ample storage in the existing "on title" office you will have plenty of space. There are separate storage and workspaces used by the manager in the secure basement as well.

The complex is secure with front gate entry and underground secure parking for all units.

The current manager has a great working relationship with the body corporate and the tenants are all long term.

Business Summary

Business Snapshot

Price: $670,000 Net Profit: $49,657 Remuneration / Body Corp Salary: $42,945

Managers Unit

Value of Managers Apartment: $498,000Bedrooms: 2Bathrooms: 1Car Spaces: 1

Complex Information

Complex Type: PermanentTotal Units in Complex: 28Total Units in Letting Pool: 8Holiday Units: 8Owner Occupy Units: 10Outside Agent Units: 10Agreement Term: 25 yearsAgreement Term Remaining: 23 years

Marketing Agent

Laura Langford

0401 12....

Robert Collins

RAAS Property Group

Key Investment Insights

1. Great location close to the Broadwater, with easy access to dining, entertainment, and walking trails.
2. Central location in Labrador, providing easy access to major shopping, education, and tourist hotspots on the coast.
3. Low maintenance complex with only 28 units and a letting pool of 8, making it easy to manage.
4. Opportunity to increase net yearly income with 10 outside agents.
5. Comfortable 2 bed 1 bath manager's unit with a private courtyard.
6. Flexible work hours, with the manager only needing to be contactable during business hours.
7. Ample storage space in the existing "on title" office and separate storage and workspaces in the secure basement.
8. Secure complex with front gate entry and underground parking for all units.
9. Strong working relationship with the body corporate and long-term tenants.
10. Permanent complex type with a 25-year agreement term and 23 years remaining.
11. Attractive business snapshot with a price of $670,000, net profit of $49,657, and remuneration/body corp salary of $42,945.
12. Manager's apartment valued at $498,000 with 2 bedrooms, 1 bathroom, and 1 car space.
13. Total of 28 units in the complex, with 8 units in the letting pool, 8 holiday units, 10 owner-occupied units, and 10 outside agent units.

Management Rights Multiplier: 3.46
ROI Estimate: 28.87%