Great Business - Not Required to Live On-Site
$1,058,000 ONO
Permanent management rights, Stafford QLD
Management Rights complex containing for independent residents 55 and over!Great Value - $558,000 on a net income of $203,065
Fantastic location only 200mtrs from Stafford City mall with doctors, dentist, picture theatre and public transport. You are just 15 minutes from the city centre.
Popular with tenants
3 Bedroom, 2 bathroom managers unit with office,at $500,000 as per the latest Valuation by industry specialist valuer
Dining room on separate title whichcould be used for other ventures
Plenty of upside with 13 lettings to potentially gain.
Caretaking workload is very manageable
Make money from the food service, only working Monday to Friday.
No requirement to live on-site, rent out the managers unit for an extra $25K of income
Income has been verified by industry accountant
Great return on investment, 19% Overall or 36% on the Business
Top-up is being made thru AGM to 22 years on Agreements
This complex isdesigned for the over 55's looking for a hot meal to be prepared for them. Tenants utilise this service, as the units are usually only one bedroom with kitchenette, including microwave, fridge, fans and en-suite bathroom. Rents are around $265-300 per week plus meals.
There are 22 units are in theletting pool, 3 outside lettings with same ownership in Stafford
The gardens are not big, they are low maintenance and there is no gym, no swimming pool, no gate etc.
There is a dedicated kitchen and communal dining room where food is prepared and served.
All the equipment in kitchen is owned and maintained by Body Corporate.
Overall this style of management rights is a great way to get into an accommodation business at a reasonable price!
More Information
- Total Purchase Price: $1,058,000 ONO
- Net Income: $ 203,065
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 500,000
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?