Profitable Permanent MLR in Kangaroo Point reaps over $300K Net Profit | Resort Brokers ID : MR008069
$2,680,843
Permanent Management Rights, Kangaroo Point QLD
ResortBrokers presents the management rights to a reputable and high quality inner-city apartment complex, Liberte to market. Boasting a strong net profit with high Body Corporate salary, coupled with 22 years remaining on Caretaking and Letting Agreements, along with upside opportunity, this investment is the perfect match for an astute operator to acquire!
- Prominent, permanent run complex with low maintenance recreational facilities.
- Modern mid-rise building with 113 units and 50 in the on-site letting pool
- Upside potential for active managers via conversion of outside agents and R&M
- No requirement to live on-site, and no set office hours
- Lengthy 22 years remaining on Caretaking and Letting Agreements
- Body Corporate salary represents over 57% of net income
- Verified net profit by industry accountants of $309,255 p.a.
- Fantastic detached 27sqm office on title with street level entrance
- Luxury 1st level 2 b / 2 b manager's unit rented and earning $30K p.a. income
- Manager must own freehold office / unit lot - sale price $748,000
- All inspections by appointment only
Date updated: 21 Apr 2024 23:00:07
More Information
- Total Purchase Price: $2,680,843
- Net Income: $ 309,255
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
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?