OUTSTANDING HIGH NET PROFIT HOLIDAY COMPLEX IN STUNNING RAINBOW BAY
$3,365,000
Resort / Holiday management rights, Coolangatta QLD
This Complex is located in arguably the one of the best positions on the Southern Gold Coast. With spacious, north facing, 2-bedroom ensuite fully self-contained apartments all with breath-taking ocean views and with world famous Snapper Rocks surf break at the doorstep.
The building consists of a total of 32 apartments, 24 of which are in the letting pool. Over the past 7 years, the building has undergone a number of upgrading projects and the complex presents beautifully. The new managers will appreciate the benefits of the hard work already done.
Bayview represents the perfect business, with high net profit, excellent systems in place, no set office hours and long agreements. The complex enjoys outstanding repeat business with 45% of rooms already booked for 2023.
All this and a beautiful modern 2-bedroom managers apartment with an outstanding outdoor space for entertaining.
22 years remaining on agreements
No set office hours
Amazing location
Building presents beautifully with a pro-active Body Corp
Excellent modern 2 bedroom, 2 bathroom apartment with ocean views.
45% forward bookings for 2023
Outstanding buying
Net profit $464,000
Call now to book an inspection you will not be disappointed.
More Information
- Total Purchase Price: $3,365,000
- Net Income: $ 464,492
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 950,000
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?