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CARETAKING BUSINESS GROSSING NEARLY $140K IN MELBOURNE'S NORTH-EAST SUBURBS | Resort Brokers ID : MRC008517
$583,500
Permanent Management Rights, ABBOTSFORD VIC
Here's an opportunity to earn a six figure income in return for efficiently running a medium sized apartment building that is fully established and easy for new owners to transition into. With no letting in the building to worry about, this business is based purely on caretaking and building management duties. A fabulous option for first timers in the industry looking to gain invaluable experience to broaden future horizons.
- Annual Owner's Corporation salary of $138,948 p.a.
- Trenerry Apartments consists of 109 apartments over 6 levels and
- Located in Abbotsford about 1.2km out of the CBD centre
- 25 year Building Management Agreements with 13.7 remaining
- Facilities include a small courtyard and an impressive foyer entry with garden wall
- Onsite hours required are split between contracted cleaners& building manager
- Contracted cleaners can be terminated anytime
- The OC are satisfied with the current cleaning/staffing arrangements.
- Cleaning: Monday-Saturday– 5 Hours
- Building Management– Off-site management approx. 14 hours per week
- Public Holidays– Moving Bins Only (approx. 15-30 mins)
- No P&L provided as vendors tie in these operations with other properties they own/operate
- Option to combine this with another caretaking business owned by same vendors
- All inspections by appointment only
Date updated: 21 Nov 2024 22:00:02
More Information
- Total Purchase Price: $583,500
- Net Income: $ 0
(actual)
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