Miami, Queensland

Where Hospitality Meets Profitable Waves, Surging with Over $377k in Net Profit!

$1.75 MR & $775k Unit = Total $2,475,500

Business Description

Strategically positioned, the property offers unparalleled convenience, with boutique shops, supermarkets, artisanal breweries, quaint cafes, and top-tier dining options all within a leisurely stroll. Surfers will delight in the proximity to Burleigh Point, renowned for its world-class waves. Additionally, the forthcoming light rail extension will enhance accessibility, with a station conveniently located at the doorstep, further enhancing the resort's allure.

Comprising 3 contemporary levels, the complex comprises 72 units, 38 dedicated to holiday letting. The remaining units are occupied by owners, outside agents, (with 16 outside to get back in the letting pool) and the manager's residence, which boasts recent renovations, including a brand-new kitchen and flooring. The manager's quarters offer a haven of tranquility, complete with spacious living areas, two bedrooms, two bathrooms, and a private verandah.

Beyond the accommodation, guests are treated to resort-style amenities, including a heated pool, spa, and alfresco dining area nestled amidst lush, low-maintenance gardens. The renovated reception area, equipped with an attached office, provides a welcoming first impression, with undercover access for arriving guests.

With the manager required onsite during office hours, there's ample opportunity for seamless operations, with the potential to further maximize revenue streams by renting out the manager's unit. Riding the wave of a booming domestic travel market, the business has witnessed robust performance, boasting a commendable net profit exceeding $377k in the past year.

The complex presents an enticing proposition for savvy investors seeking a turnkey opportunity. With the option for offsite residency, flexible agreements, and the potential to convert units currently leased through outside agents, this is an ideal venture for solo operators or seasoned industry professionals looking to bolster their portfolio with a lucrative, hassle-free endeavor.

**Ras360 – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**

Business Summary

Business Snapshot

Price: $1.75 MR & $775k Unit = Total $2,475,500 Net Profit: $377,876 Remuneration / Body Corp Salary: $121,889

Managers Unit

Value of Managers Apartment: $775,000Bedrooms: 2Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: Resort / HolidayTotal Units in Complex: 72Total Units in Letting Pool: 38Owner Occupy Units: 15Outside Agent Units: 16Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 20 years

Marketing Agent

Paul Mueller

0439 25....

Kerrie Lush

0416 08....

Ras360

Key Investment Insights

1. Strategically positioned property with convenient access to various amenities and popular surfing spot.
2. 3-level complex with 72 units, 38 of which are dedicated to holiday letting.
3. Manager's residence recently renovated with modern kitchen and flooring.
4. Resort-style amenities including heated pool, spa, and alfresco dining area.
5. Renovated reception area with attached office and undercover access for arriving guests.
6. Potential for seamless operations and maximizing revenue streams, such as renting out the manager's unit.
7. Booming domestic travel market leading to strong performance and net profit of over $377k in the past year.
8. Ideal venture for solo operators or seasoned industry professionals looking for a hassle-free, turnkey opportunity.
9. Option for offsite residency and flexible agreements.
10. Potential to convert units currently leased through outside agents.
11. Total price of $2,475,500, with $1.75 million for management rights and $775,000 for the manager's unit.
12. Manager's remuneration/body corp salary of $121,889.
13. Manager's unit has 2 bedrooms, 2 bathrooms, and 2 car spaces.
14. Complex type is resort/holiday with 72 units in total, 38 in the letting pool, and 15 owner-occupied units.
15. 25-year agreement term with 20 years remaining.

Management Rights Multiplier: 4.50
ROI Estimate: 22.22%