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Massive Opportunity - Prime Location For Permanent!
$818,000
Permanent management rights, Surfers Paradise QLD
This is a great complex in the heart of Surfers Paradise located on the Esplanade right opposite the Surfer Paradise beachfront. The building consist of 32 x 1 & 2 bedroom apartments all with views of the ocean. There is no set office hours and no requirement to reside onsite The business is currently being run by 1 person and the manager's unit is rented for $560 pw (not included in stated net profit). Plenty of scope and potential given there is 11 units with outside agents. There is also the ability to convert the units back to short term in the future. This is a big opportunity for someone that should not be missed!
More Information
- Total Purchase Price: $818,000
- Net Income: $ 80,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 490,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 4.1
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?