CARETAKING BUSINESS FOR MODERN APARTMENT COMPLEX IN CAMBERWELL - NO LETTING | Resort Brokers ID : MRC008519

$656,000

Permanent Management Rights, CAMBERWELL VIC

This easy to run business would make a great addition to an existing portfolio for a local based operator or a smart choice for a newbie to the building management space. With a gross over $150,000 and minimal overheads it would suit a two person team prepared to be hands-on to perform the duties.

- 15 years remaining on Caretaking (BMA) agreement
- OC pays a handsome salary over $150,000 per annum with annual CPI review
- Situated in Camberwell the building was completed in 2014
- Complex consists of 137 apartments in total and has 4 retail lots to ground level
- Resident vegetable garden, bookable BBQ area courtyard and secure parking
- Garden wall in foyer with beautiful reception and seating area
- Current owners use contract cleaners which can be terminated anytime
- Building manager attends weekly& works off-site for approx. 14 hours p/w
- OC requires onsite presence Mon to Sat which is covered by cleaners currently
- Ideal acquisition for newcomers to industry
- No P&L available as run under management and tied in with other properties
- Option to combine this with another caretaking business owned by same vendors
- All inspections by appointment only
Date updated: 24 Nov 2024 22:00:04

More Information

Financial Overview

Total Purchase Price: $656,000
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.}

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: 137
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 156,224
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 25 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: Represented onsite between 8am to 8pm
_{Required Office Hours}

Complex Features: 4 retail lots and commerical space. Resident vegetable garden Bookable BBQ area and courtyard Garden wall in foyer and carparking