Key Investment Insights
Key Insights:
1. The business is a permanent management rights opportunity located on the Gold Coast.
2. The complex has 83 apartments, with 25 currently in the letting pool.
3. The complex is mid-rise and has lifts for easy access.
4. The body corporate salary for the business is over $185,000.
5. The caretaking agreement is partially supervisory.
6. The agreements for the complex are long-term, expiring in 2049.
7. The office is attached and on title, with REI cloud-based software.
8. There are no set office hours for the business.
9. The manager is not required to live onsite in the agreements.
10. The manager's residence is a 2 bedroom, 2 bathroom apartment with 2 undercover parking spots.
11. There is plenty of exclusive use storage for the manager.
12. The Body Corporate and committee are excellent.
13. The complex is located in a sought-after area close to all that the Gold Coast has to offer.
14. The net profit for the business is $289,329.
15. The asking price for the business is $2,615,000, which includes the manager's real estate.
16. The manager's apartment is valued at $1,050,000.
17. The complex is a permanent complex with 25 units in the letting pool, 44 owner-occupied units, 9 outside agent units, 5 lockup units, and 1 manager unit.
18. The agreements for the complex have 25 years remaining.
19. The complex has amenities such as a pool, BBQ area, and WIFI.
Management Rights Multiplier: 5.41
ROI Estimate: 18.49%