Extraordinary ADD-ON or Starter complex.
$529,500
Permanent management rights, Southport QLD
A small, easy-to-run permanent complex of 24 units is ideal for a one-person operation. Close to Queen Street Village and Southport CBD.
There are no office hours, and only light work is required (small garden and no bins to put out).
The Body Corporate supplies all equipment and materials.
* $40,520 Caretaker contract income. CPI Brisbane or 3%, whichever is highest.
* $12,800 Letting commission & fees (gross) from 8 units in the permanent letting pool
* $25,000 Rental income from the manager's unit. There is no requirement to live on-site
* 22+ years left on Caretaker and Letting agreements - expiry in 2046
* The manager's unit has a large verandah. A basement storage room and a car park are on the title. 111 m2 in total.
* The office has been converted into a SMALL GUEST BEDROOM.
* Very low hours - Ideal as a START-UP, for someone SEMI-RETIRED or as an ADD-ON to your existing MR.
* Don't miss this rare opportunity
* Contact the owner directly to arrange an inspection
More Information
- Total Purchase Price: $529,500
- Net Income: $ 47,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 398,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 2.8
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?