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Flexible Business Only Management Rights with $268k Net Profit | Resort Brokers ID : MRB008445
$1,395,268
Permanent Management Rights, Bulimba QLD
ResortBrokers is excited to offer to market Reach Bulimba a premium and profitable business-only management rights complex, in arguably one of Brisbanes most desirable riverside locations, Bulimba, only 10 min from the CBD.
There are of 95 units across two buildings, with 30 in the internal letting pool with an additional, profitable rent roll of 32 external properties totalling a net profit of over $268,000. 25 year agreements with long tenures (across both schemes) and a combined Body Corporate Salary of $147,994, further enhance the investment's returns.
The current vendor has great relationships with the Body Corporate/s and engaged committees across both buildings which are side by side, a testament to its well-run operations. This business-only management rights opportunity is truly a flexible and turnkey operation, offering a seamless transition with the option to retain the current caretaker.
This opportunity is perfectfor savvy business operators and/ or experienced managers looking to grow their portfolio. With no real estate to purchase and no requirement to reside onsite, it offers flexibility and ease of operation.
Get in touch with either Todd or Frank today to secure!
- Business only Management Rights with strong net profit of $268k+
- Ready-to-run operation with caretaker retention option
- Long agreements - Strong rapport with proactive Body Corporate and committee
- No need for real estate purchase or onsite residency
- Diverse range of 1,2,3 bedroom apartments with 30 in letting pool
- Profitable additional rent roll of 32 properties
- Prime location in one of Brisbane's most sought-after suburbs
- Ideal for industry newcomers or seasoned operators seeking portfolio expansion
- Inspection by appointment only
Date updated: 17 Nov 2024 22:00:04
More Information
- Total Purchase Price: $1,395,268
- Net Income: $ 268,000
(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