Southport, Queensland

Small Permanent Complex in Southport - ID 8381

$875,000

Business Description

Permanent Management Rights For Sale
Easy To Manage Gated Estate

- 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 estetae 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: $875,000
(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: $875,000 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. Well-established permanent management rights business for sale in a prime location in Southport.
2. Easy to manage gated estate with minimal caretaker duties.
3. Long-standing managers selling after 10 years.
4. 15 units in the letting pool, with potential for growth.
5. Body Corporate salary of $67,000 + GST.
6. No office and no office hours required.
7. Trust accounting software in place.
8. Accommodation Module with 24 years remaining on agreements.
9. Average rents of $350-$420 per week.
10. Manager's residence is a spacious 2 bed, 2 bath open plan unit.
11. Limited facilities include a small pool and BBQ area.
12. Net profit of $75,000.
13. Asking price of $875,000, inclusive of manager's real estate.
14. Would suit semi-retired or first-time operator.
15. Potential for growth and increased income with more units in the letting pool.
16. Light and spacious manager's unit with open plan living areas and private outdoor area.
17. Complex has a total of 38 units, with 13 in the letting pool and 21 owner-occupied units.
18. Agreement module is Accommodation with 24 years remaining.
19. Facilities include a pool and BBQ area.
20. Pets allowed in the manager's unit.

Management Rights Multiplier: 4.00
ROI Estimate: 25.00%