Mermaid Beach - $191K NOP - No Office Hours & No Requirement to Live Onsite!

MIXED LETTING BUSINESS

Permanent management rights, Mermaid Beach QLD

Situated on the border of cosmopolitan Broadbeach and the exclusive enclave of Hedges Avenue - a superbly connected location, just 100 metres to the sparkling blue ocean and within walking distance of nearby cafes, alfresco restaurants and shops.

Consisting of 24 one and two bedroom self-contained apartments in an easily maintained complex supported by long term accommodation module agreements, with 20 years remaining. The business offers plenty of growth potential via 3 outside agents and extra income via repairs & maintenance, real estate sales commission plus up to an additional $24K net rental should you choose to rent the manager's apartment given there is no requirement to live onsite.

This complex offers the opportunity to revert back to holiday with a steady and strong occupancy from repeat clientele due to its proximity to the Broadbeach dining and shopping precinct. Combined quality apartments and facilities, with minimal grounds to maintain, the complex is very easily run which once again lends itself as a wonderful add-on business or first foray into the industry. However, this business is being sold on its current letting figures only!

* Incredible beachside location
* 20 years on agreement
* Very positive & supportive BC Committee
* No requirement to live onsite with additional managers apartment income of $24K plus
* No office hours and easy to manage facilities
* Separate reception/office on title

Arrange your inspection today - call Tracie Saks at Management Rights Brokers Australia on

More Information

Financial Overview

Total Purchase Price: MIXED LETTING BUSINESS
Net Income: $ 191,414 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 650,000
_{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.}

Letting Business

Letting Pool: 12
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 8
_{Number of units resided in by their owners.}

Lock Ups: 1
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 3
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 24
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 49,519
_{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: None on agreement
_{Required Office Hours}

Complex Features: * Outdoor Heated Pool Spa* BBQ Area* Secure Basement Undercover Parking* Low maintenance well-established grounds* CCTV* Cable/NBN

Real Estate Component

Manager's Unit: 2 1

Included Real Estate: $ 650,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: Yes
_{Can the manager own a pet on site?}

Unit Features: * 2 bedroom* 1 bathroom* Separate laundry* Large lock-up storage facility* Secure basement undercover carpark with storage shed* Separate exclusive use reception area * Exclusive use storage areas