Southport, Queensland

Price Reduced - Easy To Manage Complex in Southport - ID 8381

$822,500

Business Description

Permanent Management Rights For Sale
Small Gated Estate - Vendor Needs to Retire

- 38 unit complex

- Long standing managers selling after 10 years

- 15 units in the letting pool

- Body Corporate salary $67,000 + GST

- No office and no office hours

- Trust accounting software is Caretaker

- Accommodation Module with 24 years remaining on agreements

- Average rents of $350-$420 per week

- 2 bed, 2 bath open plan manager's residence

- Limited facilities include small pool and BBQ

Permanent management rights complex in a prime location, secure gated estate with minimal caretaker duties. The manager's residence is quiet and secure. Easy to manage letting pool, would suit semi-retired or first time operator.

Net Profit: $75,000
Asking Price: $822,500
SUBMIT ALL OFFERS
(Inclusive of manager's real estate)

For further information or to arrange an inspection of this Gold Coast Management Rights business for sale contact:

Management Rights Broker
Phil Trimble

Property Code: 820

Business Summary

Business Snapshot

Price: $822,500 Net Profit: $75,000 Remuneration / Body Corp Salary: $67,000

Managers Unit

Value of Managers Apartment: $575,000Bedrooms: 2Bathrooms: 2Car Spaces: 1Pets OK: Yes

Light and spacious with open plan living areas, Two comfortable bedrooms, Separate laundry, Well appointed kitchen, Large private outdoor area, One car park on title plus additional storage, Air conditioned, Ceiling fans

Complex Information

Complex Type: n/aTotal Units in Complex: 38Total Units in Letting Pool: 13Owner Occupy Units: 21Outside Agent Units: 3Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 24 yearsPool: YesBBQ Area: Yes

Marketing Agent

Phil Trimble

MR Sales

Key Investment Insights

1. 38 unit complex in a prime location
2. Long standing managers selling after 10 years
3. 15 units in the letting pool
4. Body Corporate salary of $67,000 + GST
5. No office and no office hours
6. Trust accounting software is Caretaker
7. Accommodation Module with 24 years remaining on agreements
8. Average rents of $350-$420 per week
9. 2 bed, 2 bath open plan manager's residence
10. Limited facilities include small pool and BBQ
11. Net Profit of $75,000
12. Asking Price of $822,500
13. Would suit semi-retired or first time operator
14. Manager's residence is quiet and secure
15. Easy to manage letting pool
16. Manager's apartment valued at $575,000
17. Pet friendly complex
18. Total of 38 units in complex, with 13 in the letting pool
19. Accommodation Module with 25 year agreement term, with 24 years remaining
20. Facilities include pool and BBQ area.

Management Rights Multiplier: 3.30
ROI Estimate: 30.30%