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Rare Sydney City Fringe Permanent Management Rights | Resort Brokers ID : MR007643
$3,328,108
Permanent Management Rights, Balmain NSW
This Management Rights property offers a lucrative return for an astute operator ready to swoop in and secure an efficiently run business with strong upside opportunity to grow the letting pool.
Ideally located on the city fringe, just minutes from the CBD, be quick to enquire about this genuinebusiness only opportunity!
- Enviable Sydney suburb location under 5km to the CBD
- 207 apartments, with 123 in letting pool
- Long tenure on agreements (24 years letting + 9 years caretaking)
- Manager's office on freehold title includes reception& office space, 1 x carspace and storage
- No facilities or gardens to maintain, outsourced to contractors
- Incredible $368,207 Body Corporate salary
- Freehold office underpins security of letting pool with option to run a real estate agency if desired
- Solid letting income with plenty of potential to expand the letting pool
- Inspection by appointment only
Date updated: 01 Nov 2024 00:00:02
More Information
- Total Purchase Price: $3,328,108
- Net Income: $ 596,565
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 750,000
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
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?