Key Investment Insights
1. 72-unit, purpose-built permanent complex, constructed in 2017 and described as modern and in excellent condition.
2. Verified net profit of $216,288, offered at a low multiple of 4.85x.
3. Total asking price $1.87m, comprised of MR $1.05m plus managers unit valued at $828k.
4. CPI-indexed caretaking salary and annual remuneration/body corporate salary of $94,458, providing inflation-linked income stability.
5. Long management agreements in place through to 2047, 25-year original term with 22 years remaining, supporting recurring revenue.
6. Lean, set-and-run operating model with minimal day-to-day demands; caretaking duties described as light and highly manageable.
7. Gardening commitment only six to eight hours per week, plus routine inspections and standard facility oversight.
8. No mandated office hours, allowing flexible scheduling, lifestyle appeal and suitability for semi-retirement or multiple income streams.
9. Onsite manager’s residence is a generous three-bedroom, two-bathroom home with dedicated office, utility room and two car parks, enabling quick access to common areas.
10. Letting pool of 44 units, with 15 owner-occupiers and 13 units managed by outside agents, indicating a substantial in-house management base.
11. Proactive Body Corporate with effective systems and processes already established, reducing operational risk and manager workload.
12. Strong lifestyle proposition emphasised by ease of operation, onsite living and predictable, streamlined responsibilities.
Management Rights Multiplier: 4.85
ROI Estimate: 11.52%
