Key Investment Insights
Key Insights:
1. The complex is located in a bay side area, which may be attractive to potential buyers looking for a coastal lifestyle.
2. The business offers a steady rent roll, providing a stable income for the new owner.
3. There is potential for income growth, as the current manager is not living on site and there are no office hours.
4. The vendor is motivated to sell and is open to offers starting at $830,000.
5. The manager's unit is currently rented out, providing an additional source of income for the owner.
6. The complex is a permanent residential complex, with 14 units in the letting pool and 23 owner-occupied units.
7. The agreement term is 25 years, with 23 years remaining, providing long-term stability for the new owner.
8. The manager's apartment is valued at $350,000, providing a comfortable living space for the owner.
9. The business offers a net profit of $105,000, with a remuneration/body corp salary of $89,177.
10. The current manager is not required to live on site, providing flexibility and a comfortable workload for a motivated individual.
Management Rights Multiplier: 4.60
ROI Estimate: 21.74%
