Key Investment 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%