Southport, Queensland

An Unpolished Gem!!!

$1,250,000

Business Description

An Unpolished Gem!!!

This partially gated complex in a prime location exudes potential and a secure living experience for one prepared to plan for the future. This complex is ideally located in Southport and close to Australia Fair Shopping Centre, Southport TAFE, the Broadwater, Ferry Road Markets, excellent Gold Coast Public and Private schools, including TSS and St Hilda's, and a short light rail ride to Griffith University and the Gold Coast Hospital.

The complex facilities include: outdoor pool, secure underground lock-up garage parking. Images might not depict this complex.

Also on offer: no fixed office hours, potential long-term agreements with Council taking care of the refuse bins. Opportunity for a couple wanting one party to still retain external employment, as the business can be managed by one person. This business would even suit a first-timer to the industry.

A huge unrenovated 3-bedroom 2-bathroom manager’s unit with study cum fourth bedroom, lounge and dining area with a fully equipped kitchen, two sizeable balconies and an adjoining on title office. Two secure underground parking lots.

To arrange an inspection please call: Gavin

Disclaimer: We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.

Business Summary

Business Snapshot

Price: $1,250,000 Net Profit: $114,000 Remuneration / Body Corp Salary: $97,000

Managers Unit

Value of Managers Apartment: $875,000Bedrooms: 4Bathrooms: 2Car Spaces: 3Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 56Total Units in Letting Pool: 21Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 14 yearsPool: Yes

Marketing Agent

Gavin Mattig

0409 60....

Gavern Property - Management Rights

Key Investment Insights

AI generated. Confirm details with the seller.

1. Asking price $1,250,000, reported net profit $114,000, with remuneration/body corp salary $88,600, indicating clear cashflow metrics.
2. Manager’s apartment valued at $875,000, providing substantial on-site asset backing to the purchase price.
3. Large manager’s unit features four bedrooms, two bathrooms, study/office, two balconies and an on-title office, supporting on-site management or rental income.
4. Three car spaces associated with the manager’s unit, plus secure underground lock-up garage parking for the complex.
5. Complex comprises 56 units, with 21 units in the letting pool, offering existing letting operations and occupancy potential.
6. Accommodation agreement originally 25 years, 15 years remaining, providing medium-term contractual income stability.
7. Facilities include an outdoor pool and secure underground parking, contributing to tenant appeal and retention.
8. Prime Southport location close to Australia Fair Shopping Centre, Southport TAFE, the Broadwater, Ferry Road Markets, and excellent public and private schools including TSS and St Hilda’s.
9. Excellent transport access, short light rail ride to Griffith University and the Gold Coast Hospital, enhancing tenant demand potential.
10. Operationally lightweight business model, manageable by one person, no fixed office hours, suitable for a first-time operator or a couple where one partner works externally.
11. Council potentially handling refuse bins under long-term agreements, reducing day-to-day operational responsibilities.
12. Described as an “unpolished gem”, indicating scope for value-add through renovation or improved management to increase returns.

Management Rights Multiplier: 3.29
ROI Estimate: 9.12%