Redland Bay, Queensland

Redland Bay - Managers have interests elsewhere and wish to sell!

SOLD

Business Description

This is an expression of interest
This complex is available for sale, the managers have interests elsewhere and wish to sell!

The complex is currently run by a woman whom spends 5 to 8 hrs per week total for office and garden. There is no office hours and no facilities to worry about.

Close to all amenities.

Great complex for someone new to the industry or someone that wants to kick back in the beautiful Redlands area.

Income is $106042
Home is $450,000
Business is $438,000
Total $888,000

Please contact Robert Collins Agent on ---------- or ---------- an inspection.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $106,042 Remuneration / Body Corp Salary: $38,956

Managers Unit

Value of Managers Apartment: $450,000Bedrooms: 3Bathrooms: 2Car Spaces: 1

Complex Information

Complex Type: PermanentTotal Units in Complex: 31Total Units in Letting Pool: 27Owner Occupy Units: 3Outside Agent Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 23 years

Marketing Agent

Robert Collins

0404 67....

Ras360

Key Investment Insights

1. The business is a permanent complex located in Redland Bay.
2. The current managers are looking to sell due to having interests elsewhere.
3. The complex is well-maintained and requires minimal time commitment from the managers.
4. There are no office hours or facilities to worry about.
5. The complex is close to all amenities, making it convenient for residents.
6. This would be a great opportunity for someone new to the industry or looking to retire in the Redlands area.
7. The total income for the complex is $106,042.
8. The managers' unit is valued at $450,000 and has 3 bedrooms, 2 bathrooms, and 1 car space.
9. The complex has a total of 31 units, with 27 units in the letting pool.
10. The agreement term is 25 years with 23 years remaining.
11. The complex has a net profit of $106,042 and a remuneration/Body Corp salary of $38,956.
12. Interested parties can contact Robert Collins for further information and to schedule an inspection.

Management Rights Multiplier: 4.13
ROI Estimate: 24.21%