AN IDEAL OPPORTUNITY ON CHEVRON ISLAND!
Here is your chance to live on Chevron Island in a beautiful 3-bedroom apartment while operating a solid business with 9 permanent lettings in an easy to maintain building.
Situated within walking distance to Surfers Paradise Beach, these management rights give you the perfect balance between work and lifestyle. There are no set office hours in the agreement, care taking only takes a couple of hours a day and the tenants tend to be long-term.
The current mangers have a great relationship with the committee and this would obviously continue with any new diligent manager. There are 17 years remaining on the agreement and the multiplier is below 4!
The unit is very attractively priced and includes a large lockup workshop.
The financials are as follows:
Manager's Salary: $28,498
Net Profit: $40,541
Unit Price: $440,000
Business Price: $160,000
Net Profit: $41,000 Remuneration / Body Corp Salary: $28,498
Managers UnitValue of Managers Apartment: $440,000Bedrooms: 3
Complex InformationComplex Type: PermanentTotal Units in Complex: 21Total Units in Letting Pool: 9Holiday Units: 9Owner Occupy Units: 11Agreement Term: 25 yearsAgreement Term Remaining: 17 years