FLEXIBLE BUSINESS OPPORTUNITY IN DESIREABLE COAST LOCALE | Resort Brokers ID : MR008167
$2,055,000
Permanent Management Rights, Varsity Lakes QLD
Offering the perfect balance of an impressive, fully established business that generates a solid income which is driven by permanent and student accommodation, Central Park is positioned strategically near Bond University and close to all amenities, providing an idyllic lifestyle.
There is plenty of upside to be had by engaging growth via handling unit sales, converting outside lets back into the letting pool, as well as driving the repairs and maintenance within the complex. Further to this, with no requirement to reside onsite, the manager's 3-bed, 3-bath unit, can be rented for an additional income circa $35,000 p.a.
Situated in the heart of Varsity Lakes, this investment promises business stability, a desirable lifestyle, and growth potential, it's an all-round compelling opportunity in a sought-after coastal locale.
- High-quality permanent complex
- 92 units with 40 in letting pool
- Effortless caretaker duties
- Long-term agreements
- No residency requirement
- Additional $35K rental income
- Upside via multiple streams
- Inspections are by appointment
Date updated: 28 Apr 2024 23:00:07
More Information
- Total Purchase Price: $2,055,000
- Net Income: $ 246,068
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 760,000
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?