Turnkey Business Only Management Rights with $268k+ Net Profit | Resort Brokers ID : MRB008363

$1,395,268

Permanent Management Rights, Bulimba QLD

ResortBrokers is excited to offer this premium and profitablebusiness-only management rights apartment complexes to the market, in arguably one of Brisbanes most desirable riverside locations, Bulimba.

There are of 95 units, with 30 in the internal letting pool with an additional, profitable rent roll of 32 external properties totalling a net profitof over $268,000. Topped up agreements (across both schemes) and a combined Body Corporate Salary of $147,994, further enhance the investment's returns.

The current vendor has great relationships with the Body Corporate/s and engaged committees across both properties, a testament to its well-run operations. This business-only management rights opportunity is truly a turnkey operation and offers a seamless transition with the option to retain the current caretaker.

This opportunity is perfect for savvy business operators and/ or experienced managers looking to grow their portfolio. With no real estate to purchase and no requirement to reside onsite, it offers flexibility and ease of operation.

Get in touch with either Todd or Frank today to secure!

- Business only Management Rights with strong net profit of $268k+
- Ready-to-run operation with caretaker retention option
- Long agreements - Strong rapport with proactive Body Corporate and committee
- No need for real estate purchase or onsite residency
- Diverse range of 1,2,3 bedroom apartments with 30 in letting pool
- Profitable additional rent roll of 32 properties
- Prime location in one of Brisbane's most sought-after suburbs
- Ideal for industry newcomers or seasoned operators seeking portfolio expansion
- Inspection by appointment only
Date updated: 08 Sep 2024 23:00:05

More Information

Financial Overview

Total Purchase Price: $1,395,268
Net Income: $ 268,000 (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: 5.2
_{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.}

Letting Business

Letting Pool: 30
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 59
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 6
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 95
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 147,994
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 20 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: Each complex has its own outdoor inground pool and barbeque area/facilities, lovely established gardens with neat and tidy common areas. Quality mix of 1,2,3 bedroom apartments