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

0420 39....

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%