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**URGENT SALE - HUGE price reduction** Sub 2x multiplier in Fortitude Valley | Resort Brokers ID : MR007123
$940,000
Permanent Management Rights, Fortitude Valley QLD
With an extremely motivated vendor that has already relocated overseas, we have been instructed to sell this property NOW and as such we have just applied a MASSIVE price reduction. East Village is a fabulously located low maintenance management rights business, right in the heart of Fortitude Valley. This opportunity is easy-care with a great salary, coupled with a sensational 3 bed 2 bath (with private courtyard and undercover car park) manager's residence. Perfect for a manager that wants inner-city living with a wage on top! THIS IS CRAZY VALUE!
- Urgent sale! Sub 2x multiplier!
- Right on trendy James Street, Fortitude Valley
- Spacious and modern manager's residence - 3 bed, 2 bath, 1 car with private courtyard
- Low maintenance - easily done by one person part time
- High body corporate wages for only 28 units - over 85% of Net salary
- No set office hours
- Small complex, only 28 apartments with six in the letting pool
- Inspections are by appointment only
More Information
- Total Purchase Price: $940,000
- Net Income: $ 90,297
(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?