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: YesLight 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
Key Investment Insights
Management Rights Multiplier: 3.30
ROI Estimate: 30.30%
