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: 17Permanent Units: 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

Key Insights:

1. The business has a low multiplier for netting over $222,000, making it a potentially profitable investment opportunity.

2. The body corporate salary makes up almost 87.5% of the net income, providing a stable and consistent source of revenue.

3. There is potential for additional income from maintenance, cleaning, and property sales, which could increase the profitability of the business.

4. The current manager sales commission averages $40,000 per year, providing an additional source of income.

5. The latest top-up in June 2022 to a 10-year full-term agreement provides stability and security for the business.

6. The manager is not required to live onsite, providing flexibility and potential for a work-life balance.

7. There are no set office hours, allowing for a flexible work schedule.

8. The business is located close to Chermside shopping centre, providing convenience for residents and potential for increased demand for rental properties.

9. The complex is flood-free and has not had any insurance claims during the February 2022 flood, providing a secure and safe investment opportunity.

10. The managers unit has a value of $55,000 and features 3 bedrooms, 2 bathrooms, and 2 car spaces, providing comfortable and spacious accommodation for the manager.

11. The complex is a permanent type with a total of 175 units and 17 units in the letting pool, providing potential for growth and expansion.

12. The agreement module is Accommodation with a 10-year term remaining, providing stability and security for the business.

13. The complex features amenities such as a pool, tennis court, and BBQ area, providing attractive features for potential tenants.

Management Rights Multiplier: 6.72
ROI Estimate: 14.88%

Listing location
Gallery

This Business is sold

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