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3.7 MULTIPLIER - NO NEED TO LIVE ONSITE
$1,292,000
Permanent Management Rights, KALLANGUR QLD
Priced to Sell!
This well presented medium sized residential Management Rights business has plenty of opportunity for significant growth.
As there is no requirement to live onsite, the incoming manager has the option of living and working within this charming townhouse community or earning rental income from the Manager's residence, a standalone villa on 345m2 of land, featuring 3-bedrooms, 2 bathrooms and 2 car garage. Office is on title with no fixed office hours.
Backed up by a supportive Body Corporate Committee and a recent top up to the Management Agreements to 23 years, this business is solid and a recommended acquisition. Easy-care gardens are the Caretaker's primary responsibility within this complex.
Whilst currently, much of the total net income of $133,718 p.a. is sourced from the Body Corporate Salary of $119,000 (ex-GST), there exists a large component of the complex's letting pool that is presently managed by outside agents. This represents an attractive opportunity to turn this business around and reap the monetary rewards!
Situated in a prime location, this lovely townhouse complex offers unbeatable convenience:
-Kallangur Train Station, Aldi Supermarket and Kallangur Fair are all within a short walk.
-Kallangur State School, Murrumba State Secondary College and Westfield North Lakes, are all within a 10-miunte drive.
Contact Bobo Qi now for more details and inspection.
More Information
- Total Purchase Price: $1,292,000
- Net Income: $ 133,718
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 800,000
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?