Southport, Queensland

Brilliant Permanent

Under Contract / Offer

Business Description

This well run permanent is perfect for a couple who want to put their eldest in a place to live. Netting the 140K its a nice income with a good BC salary of 110K. The managers apartment is a one bedroom however very very large and could be turned into a 2 bedroom, with a few renovations which would increase the value. The large office is attached. No Office hours. 13 outside lets to get back in the letting pool to increase income. Good investment and unit is priced very well.
call Kerrie Lush ---------- ---------- more photos of the unit. This complex is a must see.

Business Summary

Business Snapshot

Price: Under Contract / Offer Net Profit: $140,729 Remuneration / Body Corp Salary: $110,280

Managers Unit

Value of Managers Apartment: $370,000Bedrooms: 1Bathrooms: 1Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 998000Total Units in Letting Pool: 21Owner Occupy Units: 24Outside Agent Units: 13Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 15 years

Key Investment Insights

Key Insights:
- Permanent complex with 21 units in the letting pool and 24 owner-occupied units
- Net profit of $140,729 with a good body corporate salary of $110,280
- Managers apartment is a large 1 bedroom that could be converted into a 2 bedroom with renovations
- No office hours required
- Potential to increase income by getting 13 outside units back into the letting pool
- Priced well and a good investment opportunity
- Complex is a must-see
- 25-year agreement with 15 years remaining
- Managers apartment valued at $370,000
- Located in a desirable area for families, making it a good option for a couple with children
- Good work-life balance for a couple managing the complex together

Management Rights Multiplier: 4.46
ROI Estimate: 22.41%

Listing location
Gallery

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