Mudgeeraba, Queensland
NO REAL ESTATE TO BUY. 29 PERCENT RETURN
SOLD
Business Description
This compact permanent Management Rights operation is an ideal “first time” business, part-time enterprise or a “Bolt On” to your existing business portfolio.
With a total of 16 units in the complex and seven in the letting pool, the bulk of income is derived from Body Corporate salary.
No need to purchase a manager’s unit, no office, no set office hours and minimal grounds maintenance.
Very affordable at only $110,000, representing a total return on investment of 29% on net income of $32,000.
Looking for more? Why not consider also purchasing the sister business next door as one package? Together the two businesses will generate total net income of $86,000 and will including a 3 bedroom, 2.5 bathroom manager’s townhouse with office attached. This package has a total asking price (for both businesses and real estate) of $650,000.
Business Summary
Business Snapshot
Price: SOLD
Net Profit: $32,000 Remuneration / Body Corp Salary: $21,000Body corp salary review: CPI Annually
Managers Unit
Pets OK: YesNO REAL ESTATE TO BUY.
Complex Information
Complex Type: PermanentTotal Units in Complex: 16Total Units in Letting Pool: 7Owner Occupy Units: 5Outside Agent Units: 4Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 14 yearsPool: YesBBQ Area: YesPay TV: Yes
Key Investment Insights
1. Compact permanent Management Rights operation with 16 units in the complex and 7 in the letting pool.
2. Majority of income derived from Body Corporate salary.
3. No need to purchase a manager's unit, office, or maintain grounds.
4. Very affordable at $110,000 with a 29% return on investment.
5. Option to purchase sister business next door for a total net income of $86,000 and includes a 3 bedroom, 2.5 bathroom manager's townhouse.
6. Sister business and real estate can be purchased together for $650,000.
7. Price includes a remuneration/body corp salary of $21,000 with annual CPI review.
8. Pets allowed in the manager's unit.
9. Complex type is permanent with a total of 16 units and 7 in the letting pool.
10. 5 owner-occupied units and 4 outside agent units.
11. Agreement module is Accommodation with a term of 25 years and 14 years remaining.
12. Amenities include a pool, BBQ area, and pay TV.
