Southport, Queensland

Excellent coastal Location - Not Required To Live Onsite

Offer From $950,000

Business Description

• Motivated Vendor, keen to sell for retirement
• 92% Investor owners in the letting pool, managed by the current owner
• Not required to live onsite
• Ideal for bolt-on, single operator, semi-retired and the first manager
• Neat and easy caretaking
• Long agreement with 21 years remaining
• Excellent location, walk to Australia Fair, parks and Broadwater beach just cross the road

Business Summary

Business Snapshot

Price: Offer From $950,000 Net Profit: $97,230 Remuneration / Body Corp Salary: $38,248Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $494,000Bedrooms: 2Bathrooms: 1Car Spaces: 1Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 27Total Units in Letting Pool: 25Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 21 yearsPool: Yes
Marketing Agent
Greg Yang
Greg Yang

Jodi Shore
Jodi Shore

Onsite Management Rights

Onsite Management Rights

Key Investment Insights

Key Insights:
1. The current owner is motivated to sell for retirement, making this an ideal opportunity for a buyer looking to take over an established business.
2. The majority of owners in the letting pool are investors, indicating a stable and potentially profitable business.
3. The buyer is not required to live onsite, providing flexibility and potential for a semi-retired or single operator.
4. The caretaking duties are described as "neat and easy," making this an attractive option for those looking for a low-stress business.
5. The long agreement term of 21 years remaining provides security and stability for the new owner.
6. The location is described as excellent, with convenient access to amenities such as Australia Fair, parks, and the beach.
7. The business is suitable for a variety of buyers, including those looking for a bolt-on opportunity, a single operator, or someone looking to enter the management industry for the first time.
8. The manager's unit is valued at $494,000 and includes 2 bedrooms, 1 bathroom, and 1 car space.
9. The complex is classified as permanent and has a total of 27 units, with 25 currently in the letting pool.
10. The agreement module is described as "accommodation," indicating that the complex is primarily used for residential purposes.
11. The complex has a pool, which could be a desirable feature for potential tenants.

Management Rights Multiplier: 5.00
ROI Estimate: 20.01%

Listing location
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