Zillmere, Queensland

Low Multiplier For Netting Over $222K in Zillmere

SOLD

Business Description

• Solid body corporate salary, almost 87.5% of the net income
• Projected 12 months body corporate salary from April 2022 over $193K
• Clear profit & loss report, potentials for additional income from maintenance, cleaning & property sales.
• Current manager sales commission average $40K per year
• Latest top up in June 2022 to 10 years full term agreement
• Not required to live onsite
• No set office hours
• Close to Chermside shopping centre (5 mins)
• Flood free, no insurance claim during Feb 2022 flood

Business Summary

Business Snapshot

Price: SOLD Net Profit: $222,831 Remuneration / Body Corp Salary: $193,128Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $55,000Bedrooms: 3Bathrooms: 2Car Spaces: 2Office: On Title

Complex Information

Complex Type: PermanentTotal Units in Complex: 175Total Units in Letting Pool: 17Agreement Module: AccommodationAgreement Term: 10 yearsAgreement Term Remaining: 10 yearsPool: YesTennis Court: YesBBQ Area: Yes
Marketing Agent
Lily Liao
Lily Liao

Onsite Management Rights

Onsite Management Rights

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%

Listing location
Gallery

This Business is sold

Listing Tools

Management Rights

Receive new listing alerts

Sign up
Similar Management Rights For Sale

You may also like

PRIME PICK! SLICK AND WELL-RUN PERMANENT MLR WITH 24 YEAR TERM & $200K P.A. | Resort Brokers ID : MR008353
ResortBrokers
PRIME PICK! SLICK AND WELL-RUN PERMANENT...

NORTH LAKES

$1,546,667

Net Income: $200,156
Managers Estate: $610,000 3 Bed 2 Bath
Letting Pool: 75
Remuneration: $129,427

Large Remuneration Permanent Management Rights in Brisbane North
Next Business & Property Sales
Large Remuneration Permanent Management...

NINGI

$1,580,000

Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

Stunning Permanent Management Rights in Albany Creek
Next Business & Property Sales
Stunning Permanent Management Rights in...

ALBANY CREEK

$1,518,000

Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

Handy Life and Solid Business!
Next Business & Property Sales
Handy Life and Solid Business!

CHERMSIDE

$1,530,800

Net Income: -
Managers Estate: - - Bed - Bath
Letting Pool: -
Remuneration:

Unlock Your Dream - Hervey Bay Beachfront Ownership Awaits
$50 K Price Drop & Easy Part Time Income - ID 9115
Iconic Hotel in Stunning Location - 1P6187
FREEHOLD Backpackers in Brisbane
Freehold Investment Opportunity Sale by Private Treaty
SE QLD Premier Permanent Management Rights
Waterfront CBD Location in Townsville - 30 Years on Lease - 1P6237M
Exclusive - Two Adjacent Luxury Permanent Management Rights Complexes for Sale - ID 9174
Fabulous Modern Boutique Guest House right in the heart of Airlie Beach - 2857MF
Big profits and beachside living on the Sunny Coast
Premium Vineyard & Exquisite Home, Central Otago
Big Profits and Priced to Sell!
Motel 3858 - 1P6235
Solid Permanent MR, Large Remuneration and Three Beds Manager Residence in West End
Profitable Business Only Resort Management Opportunity Cotton Tree
Tuscan-Themed Resort with $309K Net Profit – ID 9175
Kokonga Lodge – Boutique Accommodation & Event Venue
NEWLY ESTABLISHED PERMANENT MANAGEMENT RIGHTS PORTFOLIO BUSINESS ONLY