Park Ridge, Queensland

Management/Letting Rights Complex in Park Ridge - close to Browns Plains Shopping and Commercial Hub - 1P5367MR

Management Rights $1,076,250

Property Description

EXCLUSIVE TO CRE BROKERS. The complex was built in 2018 and has been set up to run like a Swiss clock by very experienced Managers.

38 townhouses in the letting pool with an additional duplex unit nearby. The landscaped grounds require minimal upkeep and office duties are usually on an as required basis. The quiet location and catchment area for tenants makes the complex popular and vacancies are normally filled quickly. Be quick to inspect.

MANAGER'S RESIDENCE : 4 bedroom, 2 bathroom free-standing townhouse with double garage and covered carport. The office is on title to the house.

TOTAL NUMBER OF UNITS : 40
UNITS IN LETTING POOL : 38 + 1 remote duplex
NET PROFIT : $125,000

REAL ESTATE PRICE : $495,000
BUSINESS PRICE : $581,250
TOTAL ASKING PRICE : $1,076,250

Property Summary

Business Snapshot

Price: Management Rights $1,076,250 Net Profit: $125,000 Remuneration / Body Corp Salary: $48,446Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $495,000Bedrooms: 4Bathrooms: 2Car Spaces: 2Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 38Permanent Units: 38Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 years

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS, C:QLD - Gold Coast/Brisbane
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