Toowong, Queensland

Prime MR in popular inner-city fringe - $331K net profit @ attractive 4.75x | Resort Brokers ID : MR008672

$2,472,516

Business Description

You won’t find a better bang for your buck at a 4.75x multiplier, than this reputable and well-maintained MLR business backed by a strong BC salary representing 70% of the income. The coveted management and letting rights, plus associated real estate are situated in popular Toowong, just 4km to the Brisbane city centre.

Run under a single scheme, this sought-after complex has recently topped up caretaking and letting agreements providing security of long tenure for the incoming manager and demonstrating a supportive working relationship with the committee.

The property boasts excellent on-site facilities, featuring a ground-floor office on title and a spacious 3-bedroom, 2-bathroom manager's unit. Priced at $900,000 for both, this represents incredible value and a desirable solution for a family to live comfortably on-site alongside potential income generation. While there is a requirement to live onsite, the incoming manager will have the option to rent out the 3-bed manager's unit and reside in either a 1 or 2-bedroom apartment, should they choose.

The proximity to top private or state schools enhances its appeal, making it an ideal choice for families looking to settle in the area.


- Solid net profit over $331,056
- One Body Corporate Scheme
- BC salary of $232,829 with annual CPI increases (70% of total income)
- Permanent letting pool of 33 units with upside through outside agent conversion
- Separate freehold title ground floor office & 3-bed, 2-bath apartment - $900K (below the bank valuation)
- Option to rent out 3-bed manager's unit and reside in a 1 or 2-bedroom apartment
- Facilities include a swimming pool, spa, gym, and tennis court
- Long tenure remaining on accommodation module agreements
- Incredible convenience to shops, transport, education, entertainment and the city
- Inspections strictly by appointment only
Date updated: 06 Jul 2025 23:00:05

Business Summary