Tingalpa, Queensland

Great Bay side complex

SOLD

Business Description

CPI or 3 % annual increase on very good B/Corp salary. Steady rent roll and plenty of room to increase the income. Comfortable workload and life style for the motivated person. Vendors ready to move. Current Manager lives off sight and rents out unit. Office is separated. Vendor expected asking price or very close.
Most important
1 You do not have to live on site. The unit is currently rented out to a fantastic single lady
2 There is no office hours
3 The vendor wants offers from $830,000
Please contact Exclusive Agent Robert Collins on ---------- or ----------

Business Summary

Business Snapshot

Price: SOLD Net Profit: $105,000 Remuneration / Body Corp Salary: $89,177

Managers Unit

Value of Managers Apartment: $350,000Bedrooms: 2

Complex Information

Complex Type: PermanentTotal Units in Complex: 40Total Units in Letting Pool: 14Owner Occupy Units: 23Agreement Term: 25 yearsAgreement Term Remaining: 23 years
Marketing Agent
Robert Collins
Robert Collins

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%

Listing location
Gallery

This Business is sold

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