Stafford, Queensland

Great Business - Not Required to Live On-Site

$1,058,000 ONO

Business Description

Management Rights complex containing for independent residents 55 and over!
• Great Value - $558,000 on a net income of $203,065
• Fantastic location only 200mtrs from Stafford City mall with doctors, dentist, picture theatre and public transport. You are just 15 minutes from the city centre.
• Popular with tenants
• 3 Bedroom, 2 bathroom managers unit with office, at $500,000 as per the latest Valuation by industry specialist valuer
• Dining room on separate title whichcould be used for other ventures
• Plenty of upside with 13 lettings to potentially gain.
• Caretaking workload is very manageable
• Make money from the food service, only working Monday to Friday.
• No requirement to live on-site, rent out the managers unit for an extra $25K of income
• Income has been verified by industry accountant
• Great return on investment, 19% Overall or 36% on the Business
Top-up is being made thru AGM to 22 years on Agreements
This complex is designed for the over 55's looking for a hot meal to be prepared for them. Tenants utilise this service, as the units are usually only one bedroom with kitchenette, including microwave, fridge, fans and en-suite bathroom. Rents are around $265-300 per week plus meals.
There are 22 units are in the letting pool, 3 outside lettings with same ownership in Stafford
The gardens are not big, they are low maintenance and there is no gym, no swimming pool, no gate etc.
There is a dedicated kitchen and communal dining room where food is prepared and served.
All the equipment in kitchen is owned and maintained by Body Corporate.
Overall this style of management rights is a great way to get into an accommodation business at a reasonable price!

Business Summary

Complex Information

Marketing Agent

David Jiang

0481500....

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Key Investment Insights

AI generated. Confirm details with the seller.

1. Great value at $558,000 with a net income of $203,065.
2. Fantastic location just 200m from Stafford City mall with amenities such as doctors, dentists, and public transport.
3. Popular with tenants, making it a desirable place to live.
4. 3 bedroom, 2 bathroom manager's unit with office, valued at $500,000 by industry specialist valuer.
5. Separate dining room on a separate title, offering potential for other ventures.
6. Potential for 13 additional lettings, providing opportunity for increased income.
7. Manageable caretaking workload.
8. Opportunity to make additional income from food service, with only working Monday to Friday.
9. No requirement to live on-site, allowing for the option to rent out the manager's unit for extra income.
10. Income has been verified by industry accountant.
11. Great return on investment, with a 19% overall return or 36% return on the business.
12. Top-up being made through AGM to extend agreements to 22 years.
13. Designed for residents 55 and over, with a focus on providing a hot meal service.
14. 22 units in the letting pool, with 3 additional outside lettings under the same ownership in Stafford.
15. Low maintenance gardens and no additional amenities such as a gym or swimming pool.
16. Dedicated kitchen and communal dining room for food preparation and service.
17. All kitchen equipment owned and maintained by Body Corporate.
18. A great opportunity to enter the accommodation business at a reasonable price.