South Brisbane, Queensland
350k Net Profit Perfect River View in South Brisbane
SOLD
Business Description
• Motivated Vendor, priced to sell.• Absolute high performer, netting over $350k
• Solid body corporate remuneration over $101k per year
• Very strong rental demands for permanent and short term lettings
• Growth potentials for letting and property sales.
• Perfect location with Brisbane river view.
• Central to everything, Brisbane CBD only a few km’s away
• In Brisbane State High School catchment
• 1 bedroom Manager unit with office on title, asking $350,000 only.
Business Summary
Business Snapshot
Price: SOLD Net Profit: $351,483 Remuneration / Body Corp Salary: $101,064Body corp salary review: CPI AnnuallyManagers Unit
Value of Managers Apartment: $350,000Bedrooms: 1Bathrooms: 1Car Spaces: 1Office: On TitleComplex Information
Complex Type: PermanentTotal Units in Complex: 67Total Units in Letting Pool: 21Owner Occupy Units: 33Agreement Module: AccommodationAgreement Term Remaining: 18 yearsPool: YesTennis Court: YesBBQ Area: Yes
Key Investment Insights
1. The business is priced to sell and the vendor is motivated to sell.2. It is a high-performing business, with a net profit of over $350,000.
3. The body corporate remuneration is solid, at over $101,000 per year.
4. There is a strong demand for both permanent and short-term rentals, providing potential for growth in both areas.
5. The location is ideal, with a perfect view of the Brisbane river and close proximity to the CBD.
6. The business is in the catchment area for the highly sought-after Brisbane State High School.
7. The manager's unit is a 1 bedroom apartment with an office on title, and is priced at $350,000.
8. The complex is primarily a permanent rental complex, with 21 units in the letting pool and 33 owner-occupied units.
9. The agreement module is Accommodation, with 18 years remaining on the agreement term.
10. The complex also offers amenities such as a pool, tennis court, and BBQ area.
Management Rights Multiplier: 5.49
ROI Estimate: 15.42%
Listing location
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This Business is sold
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Last update: 19th March 2024
