2.3x! Is this the lowest multiplier in SEQ? | Resort Brokers ID : MR005844
Owner wishes to retire and therefore is selling this business at one of the lowest multipliers seen in the South East for some time. In what is a true "one man band" type of operation, this complex has real estate to purchase but no requirement to live onsite which means you can rent out the residence and earn an extra income. A modest net profit of $57k and all the best caretaking equipment including ride on lawn mower, this complex is a great semi-retirement option or an add on for those in the area.
- 42 units in the complex
- One man operation working part-time
- Unit can be rented out
- Full-term 25-year agreements
- $57k net profit
- $49k BC salary
- 2.3x Multiplier!
- Property inspections are by appointment only
Date updated: 06 Dec 2019 23:00:06
Price: Under Contract / Offer
Net Profit: $57,065 Remuneration / Body Corp Salary: $49,082
Managers UnitValue of Managers Apartment: $175,000Bedrooms: 2Bathrooms: 1Office: On Title
Complex InformationComplex Type: PermanentTotal Units in Complex: 42Total Units in Letting Pool: 12Holiday Units: 12Owner Occupy Units: 13Outside Agent Units: 13Agreement Term Remaining: 25 years