Wynnum, Queensland

GREAT STARTER BUSINESS

SOLD

Business Description

Management agreements recently topped up to 22 years.

Ideal business for industry beginners or semi-retired.

Gated community in a sought after location backing onto park and Wynnum’s foreshore.

Large renovated Managers unit comprising large office and private rear yard.

Low maintenance common grounds.

No set office hours and supportive Body Corporate Committee.

Close to public transport, shopping centres and schools. Only 15 minutes to CBD.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $100,000 Remuneration / Body Corp Salary: $66,000Body corp salary review: Fixed %

Managers Unit

Value of Managers Apartment: $465,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Recently renovated Townhouse, 3 Bedroom, 2 Bathroom, 1 Car Garage, Large back yard,

Complex Information

Complex Type: PermanentTotal Units in Complex: 42Total Units in Letting Pool: 20Permanent Units: 20Owner Occupy Units: 20Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 22 yearsPool: YesPay TV: Yes

Marketing Agent

Bobo Qi

Property Bridge

Key Investment Insights

Key Insights:

1. Management agreements have recently been topped up to 22 years, providing stability and potential for long-term growth.

2. This business is ideal for industry beginners or those looking for a semi-retired lifestyle.

3. The gated community is located in a highly sought after location, backing onto a park and Wynnum's foreshore.

4. The managers unit has been recently renovated and includes a large office and private rear yard.

5. The common grounds are low maintenance, reducing workload and expenses for the managers.

6. There are no set office hours and the Body Corporate Committee is supportive, providing a flexible and manageable workload.

7. The complex is conveniently located near public transport, shopping centres, and schools, and is only 15 minutes from the CBD.

8. The business offers a net profit of $100,000, with a remuneration/body corp salary of $66,000.

9. The managers apartment has a value of $465,000 and includes 3 bedrooms, 2 bathrooms, and a private back yard.

10. The complex is a permanent complex with a total of 42 units, of which 20 are in the letting pool and 20 are owner-occupied.

11. The agreement module is Accommodation and has a term of 25 years, with 22 years remaining.

12. The complex features a pool and pay TV, providing additional amenities for residents.

Management Rights Multiplier: 4.70
ROI Estimate: 21.28%