Hillcrest, Queensland

Management Rights $940,000

Property Description

MANAGED COMPLEX IN BUSY HILLCREST - 1P4404MR

PRICE REDUCED TO SELL: Built in 2015 this management rights complex of 38 units is located in a quiet area and close to the Grand Plaza Mall and large commercial hub. Express bus service to Brisbane's CBD is a couple of minutes walk away.

The business would be ideal for a single operator or a couple with one keeping their existing employment. The landscaped grounds are easily managed along with the small amount of grassed areas dotted throughout.

The Manager's three bedroom, 2 bathroom, 2 storey townhouse is tiled and carpeted throughout with a large private backyard. Current managers have purchased a larger complex elsewhere and wish to hand over the reins of this attractive property to a new manager.

TOTAL NUMBER OF UNITS: 38
UNITS IN LETTING POOL : 35

NET PROFIT : $125,000
REAL ESTATE PRICE : $410,000
BUSINESS PRICE : $530,000
TOTAL ASKING PRICE : $940,000

Property Summary

Business Snapshot

Price: Management Rights $940,000 Net Profit: $121,000 Remuneration / Body Corp Salary: $46,968Body corp salary review: CPI Annually

Managers Unit

Value of Managers Apartment: $420,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes

Complex Information

Complex Type: PermanentTotal Units in Complex: 38Total Units in Letting Pool: 35Permanent Units: 35Owner Occupy Units: 2Outside Agent Units: 1Manager Units: 1Agreement Module: AccommodationAgreement Term: 25 yearsAgreement Term Remaining: 23 years

Other Features / Notes

A:MANAGEMENT RIGHTS, B:MANAGEMENT RIGHTS

Marketing Agent


Marketing Agency

CRE Brokers

Jim Prentice
CRE Brokers

Phone

Listing Tools

Property Map

Map Location ( get directions )

Hillcrest, Queensland 4118 Exact map location not provided

Similar Properties

ID 8881 BL HILLCREST
Business For Sale - Small Southside Perm...

$940,000
Net Income: $121,000
Managers Estate: $405,000 3 Bed 2 Bath
Letting Pool: 38
Remuneration: $45,600

MR Sales
Simple and Easy!
Exclusive

RICHLANDS
Simple and Easy!

$899,000
Net Income: $105,077
Managers Estate: $375,000 3 Bed 2 Bath
Letting Pool: 37
Remuneration:

Next Business & Property Sales
Moorooka Management Rights,
Exclusive

MOOROOKA
Moorooka Management Rights,

960,000.00
Net Income: $106
Managers Estate: $450,000 - Bed - Bath
Letting Pool: 39
Remuneration: $72,562

Joy Realty