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NO REAL ESTATE TO BUY - NO NEED TO LIVE ONSITE
$1,575,700
Permanent Management Rights, PIMPAMA QLD
We are pleased to offer this attractive Gold Coast Management Rights within a very modern residential complex.
This near new townhouse community is straight forward to manage and reaps a healthy Net Profit of over $276,000 p.a. There is also an opportunity for the incoming manager to increase the businesses bottom line by undertaking "handy man" jobs within the complexes townhouses as no such "repairs and maintenance" income is evident within the present manager's financial figures.
Management Agreements governing this business currently have 23 years to run, with the Caretaking Salary reviewed annually, increasing by the greater of CPI and 3%. Attractively, for the business operator, the only common area amenity is a BBQ area.
As there is no manager's residence to purchase, an on-site office is provided by way of an occupational authority, free of charge, to the manager who is not obligated to live within the complex. Consequently, your Return on Investment is outstanding as capital outlay is limited to your income generating asset.
Your on-site letting pool is strong with a long line of prospective tenants appreciating the modern townhouses and recognising the many strengths that Pimpama has on offer. Being one of the fastest growing communities in Australia residents can enjoy the $85 million dollar Pimpama Sports Hub less than one km away and a choice of two train stations. Don't forget about the nearby Westfield shopping centre and the legendary Costco. Bunnings, BCF, and all other big box retailers are close by. As is a choice of 15 schools and colleges, Dream World and Movie World. Jump onto the M1 highway in a minute!
Plenty of reasons here to contact Bobo Qi for an exclusive inspection ASAP.
More Information
- Total Purchase Price: $1,575,700
- Net Income: $ 276,447
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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: 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