Key Investment Insights
1. The business has a solid body corporate salary, which accounts for almost 87.5% of the net income.
2. There is potential for additional income from maintenance, cleaning, and property sales.
3. The current manager's sales commission averages $40,000 per year.
4. The latest top-up in June 2022 extends the full-term agreement to 10 years.
5. The manager is not required to live onsite.
6. There are no set office hours.
7. The business is located close to Chermside shopping centre, which is only 5 minutes away.
8. The complex is flood-free and has not had any insurance claims during the February 2022 flood.
9. The net profit for the business is over $222,000, making it a profitable opportunity.
10. The projected body corporate salary for the next 12 months is over $193,000.
11. The business has a clear profit and loss report, providing transparency for potential buyers.
12. The manager's unit has a value of $55,000 and includes 3 bedrooms, 2 bathrooms, and 2 car spaces.
13. The complex is permanent and has a total of 175 units, with 17 units in the letting pool.
14. The agreement module is accommodation, and the current agreement term is for 10 years with 10 years remaining.
15. The complex also has amenities such as a pool, tennis court, and BBQ area.
Management Rights Multiplier: 6.72
ROI Estimate: 14.88%
