Very Manageable Permanent Letting Business
$795,000
Permanent management rights, Clifton Beach QLD
Here is a rare opportunity to acquire a very modern, very manageable permanent letting business in a location close to one of Cairns favoured northern beaches. The complex was built in 2007 to meet the growing demand in this area for quality family accommodation close to schools, James Cook University and the surrounding environs. Since opening, this property has been close to 100% occupancy without much effort. A continuing demand for 3 bedroom family apartments to let means the vacancy sign hardly gets used.
The complex has been designed to make the most of the grounds having established trees and nearby streams. Every apartment has an appealing outlook and affords maximum privacy for the occupants offering spacious three bedroom accommodation that is sought after not only by families but professionals and those who prefer the spare room for study or storage. Every apartment is very tastefully appointed and it is little wonder the vacancy rate is down and the rents hold up.
The grounds are well laid out and thoughtfully landscaped.
The managers apartment is one of the better three bedroom apartments available. The apartment is not only very tasteful but has its own private garden offering pup an exercise area and a lovely outlook from the living room and patio. The spacious office is on title and also provides for a back office area with extra storage. There is the option to live off-site.
This property and business would be ideal for those seeking a very sound business with excellent living arrangements.
More Information
- Total Purchase Price: $795,000
- Net Income: $ 108,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 440,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 3.3
Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Required Office Hours
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?