Tugun, Queensland

Absolute Beachfront Short Term Gem - ID 8760

$1,826,000

Business Description

Mixed Letting Management Rights For Sale
Southern End of the Gold Coast

- Well maintained mid rise resort

- Long standing managers have decided to retire

- 35 unit complex with 18 units in the letting pool

- Body Corporate salary of $78,000

- Long agreements with over 23 years remaining

- Sinking fund balance $252,000 as of 1 October 2024

- Would suit either experienced or first time operator

- Excellent Committee & Body Corporate

- Resort style facilites including heated pool, half tennis court & BBQ

The manager's apartment offers 2 bedrooms, 2 bathrooms, and double car parking. It is located on the ground floor in a quiet, private area and has direct access to the white sandy beach of Tugun.

Net Profit: $202,676
Asking Price: $1,826,000
(Inclusive of manager's real estate)

For further information or to arrange an inspection of this Gold Coast Management Rights business for sale contact:

Management Rights Broker
Phil Trimble

Property Code: 868

Business Summary

Business Snapshot

Price: $1,826,000 Net Profit: $202,676 Remuneration / Body Corp Salary: $78,000Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $975,000Bedrooms: 2Bathrooms: 2Car Spaces: 2Office: Exclusive Use

Ground floor residence, 2 bedrooms, 2 bathrooms, 2 car spaces, Large balcony off the living area with ocean views, 2 smaller balconies off each of the bedrooms, air conditioning, ceiling fans

Complex Information

Complex Type: MixedTotal Units in Complex: 35Total Units in Letting Pool: 18Owner Occupy Units: 13Lockup Units: 3Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 yearsPool: YesTennis Court: YesBBQ Area: Yes

Marketing Agent

Phil Trimble

MR Sales

Key Investment Insights

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Management Rights Multiplier: 4.20
ROI Estimate: 23.82%