[Inner City, 5.3 Multiplier] $270K Net Income with great potential

$2,360,000

Permanent management rights, Bowen Hills QLD

Business Highlights:

1.Prime Location: Exceptional convenience for transportation, shopping, and lifestyle.
2. Body Corporate Income:
- Salary income: $160,000.
- Salary accounts for 59% of total revenue, providing a stable income structure.
- Salary increases annually in line with the Consumer Price Index (CPI).
3.Letting Pool Income:
- $110,000 from managing a letting pool of 35 properties.
- The letting pool accounts for 45% of the total 78 properties in the complex, ensuring strong managerial control and ease of operation.
4.Net Profit: $270,000 annually.
5.Easy Maintenance:
- No requirement to maintain swimming pool water quality or equipment, only cleaning.
- No lawns in the complex, making it easy to manage.
- No Office Hours Required
6.Manager's Residence:
- A 3-bedroom, 2-bathroom, 2-car space unit with two exclusive storage rooms and a spacious, bright office.
- The managers residence is currently rented out, generating additional income (not included in the net profit).
- Significant potential for property value appreciationan excellent investment opportunity.
7.Additional Potential: Convert long-term rentals to short-term rentals to earn higher commissions.
8.Price Details:
- Business: $1.42 million.
- Manager's residence and office: $940,000.
- Total: $2.36 million.


DISCLAIMER
The agent gives notice that:
1. The figures and information disclosed in this Information Memorandum are provided by the vendor. All intending purchasers are to make their own enquiries and assessments as to the accuracy or otherwise of the information supplied by the vendor.
2. It must be noticed that agent has no access to full sets of accounts or legal documentation for verification purposes. No liability for the information will be accepted by the agent and parties should make their own investigations as to the accuracy of these figures and information.