BUSINESS ONLY DUO IN HOT INVESTMENT AREA OFFERS GREAT INCOME&WORK FLEXIBILITY | Resort Brokers ID : MRB008324
$1,743,878
Permanent Management Rights, CHERMSIDE QLD
This is a superb opportunity to secure the management rights to two established permanent apartment complexes in Brisbane's northside central hub of Chermside. Offering a net profit of $317,612 with genuine work flexibility, no set office hours, no real estate requirements and long tenure remaining on 25 year agreements, this is a profitable opportunity for all management rights operators to consider.
- Located in prime Chermside area, just 300m apart making it easy to manage
- Newly topped up agreements with 22 years and 20 years respectively
- Consists of 132 apartments across the two complexes
- 28 in the onsite letting pool plus 8 external lettings nearby
- Underpinned by BC salary of $237,246 representing nearly 75% of the net income
- Offers superb rental accommodation / investor stock in this busy pocket of Brisbane
- Key employment and transport drivers in the immediate vicinity
- No real estate to own, exclusive use offices in both buildings
- No set office hours and very manageable duties
- Plenty of upside potential for an active and hands on manager
- All inspections by appointment only
Date updated: 22 Sep 2024 23:00:04
More Information
- Total Purchase Price: $1,743,878
- Net Income: $ 304,247
(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