Richlands, Queensland

Netting Over $202K In Fast Growing South West Brisbane

$1,740,000

Business Description

• Total of 71 permanent townhouses
• 35 units managed in onsite letting pool
• Opportunity for further growth
• Solid BC salary and letting income
• No set office hours, easy to maintain grounds
• Pool serviced by a professional team paid for by BC
• Inclusive of a manager's unit with office on title, and an office
• Close to Richlands Plaza, train station and easy access to major Motorways
• Long term agreements, 22 years remaining
• Good CCTV in place

Business Summary

Business Snapshot

Price: $1,740,000 Net Profit: $202,515 Remuneration / Body Corp Salary: $97,991Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $620,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On Title
Renovated kitchen. 4 air conditioners

Complex Information

Complex Type: PermanentTotal Units in Complex: 71Total Units in Letting Pool: 35Owner Occupy Units: 30Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 yearsPool: Yes
Marketing Agent
CeCe Chen
CeCe Chen

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

1. The business is located in a fast-growing area in South West Brisbane, providing opportunities for further growth.
2. The complex consists of 71 permanent townhouses, with 35 units currently managed in the onsite letting pool.
3. The business has a solid body corporate salary and letting income.
4. The grounds are easy to maintain and there are no set office hours, making it a low-stress operation.
5. The pool is serviced by a professional team paid for by the body corporate.
6. The sale includes a manager's unit with an office on title, as well as an additional office.
7. The complex is conveniently located near a shopping plaza, train station, and major motorways.
8. The agreements are long-term with 22 years remaining.
9. The complex has good CCTV in place for added security.
10. The manager's unit is valued at $620,000 and has been recently renovated.

Management Rights Multiplier: 5.53
ROI Estimate: 18.08%

Listing location
Gallery

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