Key Investment Insights
Key Insights:
1. Strong Body Corporate Salary: The complex has a strong body corporate salary of $202,166, providing a stable and reliable income for the manager.
2. Limited Office Hours: The agreement does not require the manager to have set office hours, allowing for more flexibility and less time spent in the office.
3. Accommodation Module Agreements: The complex has Accommodation Module agreements with 22 years remaining, providing long-term stability for the manager.
4. Opportunity for Growth: With only 30 units in the permanent letting pool out of 122 total units, there is potential for the manager to grow the permanent letting pool and increase income.
5. Beachside Location: The complex is located in a beachside suburb, making it an attractive location for both residents and holidaymakers.
6. Spacious Manager's Residence: The manager's residence is a spacious 2 bedroom townhouse with the option to add a 3rd bedroom, providing comfortable living quarters for the manager.
7. Proximity to Amenities: The complex is within walking distance to shops and the nearby beachfront, providing convenience for residents and potential tenants.
8. First Time Offered Since Construction: This is the first time the complex has been offered for sale by the developer since its construction, making it a unique opportunity for potential buyers.
9. Net Profit and Asking Price: The complex has a strong net profit of $237,095 and an asking price of $1,699,000, providing a good return on investment for the manager.
10. Experienced Management Rights Broker: The sale is being handled by an experienced management rights broker, providing expertise and guidance for potential buyers.
Management Rights Multiplier: 4.87
ROI Estimate: 20.55%
