High Net profit over $490K - Beachfront Holiday Resort Apartments in Palm Beach

Key Investment Insights

1. The beachfront high rise apartment has stunning ocean views, making it a desirable location for tourists.
2. The local tourism industry is thriving, providing potential for further growth and increased net profit.
3. The manager's responsibilities are limited to supervising contractors and reporting to the Body Corporate, allowing for a more manageable workload.
4. The business has well-established systems in place and a team of long-term staff and contractors, providing stability and efficiency.
5. The business consistently performs well, with high occupancy rates and satisfied return guests.
6. The property includes a large separate office/reception area on title, providing a professional and convenient work space.
7. The manager is not required to live onsite, providing flexibility and work-life balance.
8. The location is central to popular attractions, shopping precincts, and restaurants, making it an attractive destination for tourists.
9. The business has a high net profit of over $490,000, providing a strong return on investment.
10. The managers' unit is valued at $850,000 and includes two bedrooms, two bathrooms, and an office on title.
11. The complex is a holiday type with 78 units in total and 31 units in the letting pool.
12. The management agreement has a remaining term of 19 years, providing long-term stability for potential buyers.
13. The complex offers amenities such as a pool, sauna, gym, tennis court, and BBQ area, making it an attractive option for guests.

Management Rights Multiplier: 5.50
ROI Estimate: 18.18%