Low Multiplier ONLY 2.87 in Gold Coast - ID 9138

$2,190,000

Permanent management rights, Carrara QLD

Permanent Management Rights for Sale
Over Two-Thirds Net Income from BC Salaries Plus Additional Rental Income

- High body corporate salaries totaling $152,606 plus GST, split between $77,564 and $75,042, with annual increases either by CPI or 1.5%, whichever is higher. This total remuneration makes up more than two-thirds of the net profit, securing a stable income for you.
- High net operating profit of approximately $205,683, with an additional $35,000 in rental income from one of the manager's units, totaling up to $240,000.
- Manageable workload with flexible pacing and no set office hours.
- Low multiplier of only 2.87.
- All rentals are permanent, with 24 units in the letting pool out of a total of 93 units, showcasing significant potential for growth in both rental and sales.
- Long-term 25-year agreements with 17 and 19 years remaining.
- The sale includes two managers units:
- One 3-bedroom double-story townhouse featuring 1 bathroom, an extra toilet, a garage, and a 35 square meter office with a large courtyard.
- A spacious 5-bedroom apartment with 2 bathrooms, 2 car parks, an office, and a total area of 200 square meters.
- Numerous air conditioning units installed in a very peaceful setting.
- Excellent location close to shops, major highways, and good schools for convenience.
- Live onsite in one unit while the other is rented out for an additional income of $40,000.
- Total selling price is only $2,190,000, including both managers units.

If you are seeking a high and stable income, this opportunity is the one you can't afford to miss.

Net Profit: $205,683 up to $240,000 (plus rental income from one of managers units)
Asking Price: $2,190,000
(Inclusive of Manager's Real Estate)

More Information

Financial Overview

Total Purchase Price: $2,190,000
Net Income: $ 240,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 1,500,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 2.9
_{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: TBC
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 152,606
_{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: 19 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 70 years
_{How long has the management rights existed.}

Office Hours: as per agreements
_{Required Office Hours}

Complex Features:

Real Estate Component

Manager's Unit: 8 3

Included Real Estate: $ 1,500,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 2

Office On Title: 1
_{Is there a manager's office included on the title?}

Pets: No
_{Can the manager own a pet on site?}

Unit Features: One 3-bedroom double story townhouse with 1 bathroom plus extra toilet, 1 garage and 35 square meters large office with large courtyard.The other 5-bedroom huge apartments with 2 bathrooms, 2 car parks and office, total area of 200 square meters.