Secure Income Permenant Complex
$1,190,000
Permanent management rights, Clifton Beach QLD
This beautifully maintained complex is the perfect opportunity to purchase a guaranteed income business in one of Australia's most competitive rental markets. With a healthy caretakers Salary , and a large share of the units in your rental pool this really is a great opportunity to make the move to Tropical North Queensland!
The 3 building permanent residential complex offers the best of resort living, centered around a large lap pool, and features a wading pool for little ones, a Cabana with BBQ's / seating not to mention a well equipped gym. Tropical gardens throughout have been well maintained, and the complex has a very healthy sinking fund with many projects underway with the welcoming pro-active committee. Positioned half way between Cairns and Port Douglas, the complex is also close to James Cook University, schools (with bus stop out front), close to shops, walking distance to pristine Clifton Beach with the beautiful Palm Cove tourist district just up the road.
The managers residence is well positioned on the top floor with views out to the ocean and several balconies to take advantage of the "indoor / outdoor" lifestyle that is synonymous with Tropical living. This 2 level Sky Villa Penthouse has beautiful finishes throughout with kitchen, dining, lounge, 2 balconies, laundry and toilet on the first floor flowing upstairs to the 4 bedrooms, 2 bathrooms and office. The master bedroom has plantation blinds leading out to its own balcony, as well as an en suite featuring a spa bath and double vanities, then on to your walk in wardrobe.
With a separate office onsite, flexible working hours and work schedule 2 people could manage this complex and still be able to take advantage of the lifestyle of Far North Queensland, or cater to a growing families needs ... its definitely time for that sea change!
More Information
- Total Purchase Price: $1,190,000
- Net Income: $ 141,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 520,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.8
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?