Mitchelton, Queensland

No Requirement to Live Onsite!

SOLD

Business Description

This permanent management rights business is located on the Northern side of Brisbane’s CBD.
This as new residential development situated close to schools, public transport, shopping and sport and recreation facilities.
With only 16 in the rental pool and low maintenance grounds this complex could be easily managed part time by one or in conjunction with another job.
The BC Salary is $89K and is due to increase by $5K so provides a great safety net for the incoming manager.
The manager’s unit is a 3 bedroom apartment, including 2 bathrooms, separate laundry, double parking, attractive entertaining balcony, quality kitchen appliances
and two offices. The apartment presents as new! A new secure shed is provided to store caretaking equipment.
The Manager is not required to live on-site and the managers unit is currently earning $465 per week.
For additional information or to arrange an inspection please contact David Janett ---------- - Mike Clark ---------- - David Jiang ---------- .
Features:

• Great Location
• Generous BC Salary
• Live off site
• Clean P&L
• No Maintenance
• Huge opportunity to increase your income
• Rent out the managers unit and earn another $24,180.

This is an outstanding opportunity so act QUICKLY!!

Business Summary

Business Snapshot

Price: SOLD Net Profit: $114,623 Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $500,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: Exclusive Use

Complex Information

Complex Type: PermanentTotal Units in Letting Pool: 15Owner Occupy Units: 43Outside Agent Units: 12Manager Units: 1Agreement Module: AccommodationAgreement Term Remaining: 18 & 21 yearsPool: Yes

Marketing Agent

David Janett

David Jiang

Next Business & Property Sales

Key Investment Insights

Key Insights:

1. Permanent management rights business located in a desirable location near Brisbane's CBD.
2. Low maintenance grounds and only 16 units in the rental pool make this business easy to manage part-time.
3. BC Salary of $89K with potential for increase provides a stable income for the incoming manager.
4. Manager's unit is a spacious 3 bedroom apartment with modern amenities and separate offices.
5. Manager is not required to live on-site and can earn additional income by renting out the unit.
6. Great opportunity to increase income and potential for growth.
7. Business has a clean P&L and is in a desirable location.
8. Manager's apartment has a value of $500,000.
9. Complex is of permanent type with 15 units in the letting pool and 43 owner-occupied units.
10. Agreement module is Accommodation with a remaining term of 18 and 21 years.
11. Amenities include a pool and a secure shed for caretaking equipment.
12. Act quickly as this is an outstanding opportunity.

Management Rights Multiplier: 4.36
ROI Estimate: 22.92%