50 Enborisoff Street, Taigum, Queensland

Great North Side Complex

SOLD

Business Description

Pets OK with B/Corp approval. This is a beautiful north side complex and it easily run by one person. This complex is designed with the Manager in mind. The home is beautiful with a huge multipurpose room and an additional large living area. You will not be disappointed in this one. The complex is ideally situated for rentals. There has been 100% occupancy since new with a growing rental pool. All written policies and procedures are in place. It is truly a walk in walk our business There is an additional income for a small rent role just outside the complex at a 3 multiplier for an additional income of $12,727. The MR income is $157,387 at a very reasonable multiplier of 4.9. It is GV complaint and has a friendly BC committee. There is no committee member living on site.

Current Managers live off site. Office can be separated and home can be rented

Please contact Robert Collins Exclusive Agent on ---------- or ----------

Business Summary

Business Snapshot

Price: SOLD Net Profit: $157,387 Remuneration / Body Corp Salary: $96,132

Managers Unit

Value of Managers Apartment: $599,000Bedrooms: 3Bathrooms: 2Car Spaces: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 65Total Units in Letting Pool: 31Owner Occupy Units: 31Outside Agent Units: 2Lockup Units: 1Agreement Term: 25 yearsAgreement Term Remaining: 21 years
Marketing Agent
Robert Collins
Robert Collins

Key Investment Insights

Key Insights:
1. Beautiful north side complex with a well-designed home and additional living space.
2. Easily run by one person, making it an ideal opportunity for a single manager.
3. 100% occupancy since new and a growing rental pool.
4. All written policies and procedures are in place, making it a walk-in, walk-out business.
5. Additional income from a small rent role outside the complex.
6. Reasonable multiplier of 4.9 for the MR income of $157,387.
7. GV complaint and friendly BC committee with no committee member living on site.
8. Current managers live off-site, allowing for the office to be separated and the home to be rented.
9. Managers unit valued at $599,000 with 3 bedrooms, 2 bathrooms, and 2 car spaces.
10. Complex type is permanent with a total of 65 units, 31 of which are in the letting pool.
11. Agreement term is 25 years with 21 years remaining.

Management Rights Multiplier: 5.14
ROI Estimate: 19.45%

Listing location
Gallery

This Business is sold

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