No Requirement To Live Onsite - ID 8411

$2,200,000

Student Accommodation management rights, Varsity Lakes QLD

Permanent Management Rights for Sale
More than $250,000 Net with High Salary

- No requirement to live onsite place the managers unit into the rental pool to generate an additional $40,000 in income.
- No set office hours.
- Simple and easy caretaking duties with a very light workload.
- High Body Corporate salary of over $140,000 plus GST.
- 25-year long-term agreement with approximately 20 years remaining.
- All permanent rentals, with 30 units in the letting pool and 12 managed by outside agents, offering strong income upside potential.
- More than $250,000 net profit plus an additional $40,000 rental income from the managers unit, totalling up to $290,000 annual income.
- Very large apartments featuring 3 bedrooms, 2 bathrooms, 1 secure car parking space, and air conditioning.
- Highly sought-after central location, close to everything: shops, restaurants, medical centre, pharmacy, public transport, premium popular schools, and university.
- Large professional office on title with a separate entrance and bathroom, providing excellent convenience for the manager to operate the business independently.

With this very high net return, the total price is only $2,200,000, including a spacious 3-bedroom managers unit.

If you want to earn more while working less and enjoying greater flexibility, this opportunity is rarely found in the market.

Stop looking this is an opportunity you cant afford to miss.

Net Profit: More than $250,000 Net Profit
Asking Price: $2,200,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $2,200,000
Net Income: $ 250,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,000,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.8
_{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.}

Letting Business

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

Owner Occupiers: 0
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 0
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

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

Caretaking

Remuneration: $ 140,000
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 0 years
_{How long is the caretaking contract.}

Agreement Remaining: 0 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: No set office hours
_{Required Office Hours}

Complex Features:

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 1,000,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

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

Pets: No
_{Can the manager own a pet on site?}

Unit Features: Large apartment featuring 3 bedrooms, 2 bathrooms, 1 secure car parking space, and air conditioning.