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Management/Letting Rights Complex in Park Ridge - close to Browns Plains Shopping and Commercial Hub
$1,076,250
Permanent management rights, Park Ridge QLD
EXCLUSIVE TO CRE BROKERS. The complex was built in 2018 and has been set up to run like a Swiss clock by very experienced Managers.
38 townhouses in the letting pool with an additional duplex unit nearby. The landscaped grounds require minimal upkeep and office duties are usually on an as required basis. The quiet location and catchment area for tenants makes the complex popular and vacancies are normally filled quickly. Be quick to inspect.
MANAGER'S RESIDENCE : 4 bedroom, 2 bathroom free-standing townhouse with double garage and covered carport. The office is on title to the house.
TOTAL NUMBER OF UNITS : 40
UNITS IN LETTING POOL :38 + 1 remote duplex
NET PROFIT : $125,000
REAL ESTATE PRICE : $495,000
BUSINESS PRICE : $581,250
TOTAL ASKING PRICE : $1,076,250
More Information
- Total Purchase Price: $1,076,250
- Net Income: $ 125,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 495,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.7
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?