NO NEED TO LIVE-ON SITE - GREAT RETURNS ON INVESTMENT!
$1,850,000
Permanent Management Rights, LABRADOR QLD
Are you looking to purchase a robust Gold Coast Management Rights business with a low capital investment in the real estate component? Look no further, as you will reap the benefits of excellent returns on this investment.
Attractively, 60% of net income is derived from Body Corporate salary of over $147,000 p.a. (ex-GST), increasing yearly by the greater of CPI or 3%. And 20 years remain on Management Agreements.
This business has a solid letting pool as the townhouse complex, situated in the heart of Labrador, is so popular with tenants resulting in consistently strong demand for on-site rentals.
Manager is not required to live on-site and is currently renting the on-site residence.
The Manager's townhouse is a tidy 3 bedroom, 1.5 bathroom abode with a single lock up garage and two car spaces. Office is on title and entry is separate to the home.
No vehicle gates or BBQ to be maintained. And this community scheme is registered under the 'Standard Format Plan' which simplifies the Building Manager's duties.
A fantastic location, good transport options, close to the Gold Coast Hospital, Griffith University, shops, cafes, Harbour Town Shopping Centre, Broadwater foreshore, parkland areas and primary school.
Inspection is a must! You will not be disappointed.
More Information
- Total Purchase Price: $1,850,000
- Net Income: $ 243,970
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 600,000
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?