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
Price: Management Rights $940,000
Net Profit: $121,000 Remuneration / Body Corp Salary: $46,968Body corp salary review: CPI Annually
Managers UnitValue of Managers Apartment: $420,000Bedrooms: 3Bathrooms: 2Car Spaces: 1Office: On TitlePets OK: Yes
Complex InformationComplex 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