Towering MLR in Melbourne's Southbank with $458K NOP | Resort Brokers ID : MRB008217
$2,300,000
Permanent Management Rights, Southbank VIC
Bought to you exclusively by ResortBrokers is the lucrative business-only management rights to The Evermore apartments. An exceptional quality, centrally positioned high-rise permanent complex comprising 366 apartments located in the vibrant precinct of Melbournes Southbank.
- Stunning twin-tower development comprising 366 apartments
- Resort-style amenities with pool, sauna, gym, cinema, dining& function rooms
- Business-only MLR with 22 years remaining on agreements
- Current permanent letting pool of circa. 33 units
- Range of 1, 2 and 3 bedroom floorplans with approx. 80 units in unsold stock
- Strong Owner's Corporation salary of $486,684 p.a.
- Office provided under OA with set hours Mon-Fri 8.30am to 5pm
- Run by two person team for building& property management plus contractual cleaners / gardeners
- Large upside potential via unit sales& conversion of outside agents to letting pool
- Prime inner-city location popular with tenants as close to cultural venues, transport& riverside dining precincts
Date updated: 01 May 2024 01:00:05
More Information
- Total Purchase Price: $2,300,000
- Net Income: $ 458,445
(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?