Well sought-after permanent management rights with high rental demand. | Resort Brokers ID : MR008253

$895,000

Permanent Management Rights, Condon QLD

ResortBrokers presents a prime opportunity to acquire the management rights to Riverway Point, a modern apartment complex in Condon, Townsville.

This investment offers a robust 18 percent ROI, secured by a 21-year agreement term. The complex, with 70 units, is strategically located near key amenities and offers the potential for substantial growth.

The manager's unit is well-appointed, and the complex includes a pool and barbecue area.

This is a profitable business in a high rental demand area, offering long-term stability and high-income potential.

- Secured by an extensive21-year agreement term.
- Opportunity for substantial bottom-line growth through the conversion of externallymanaged units.
- Strong 18% ROI, reinforced by a substantial body corporate salary.
- Efficient three-storey structure with no lift maintenance required.
- Enhanced security with a gated entry system.
- Strategically positioned near key transport routes, sports facilities, retail outlets, and eateries.
- Profitable management rights business in a prime location, offering long-term agreements, flexible work conditions, and high-income potential.
- Situated in a desirable southern area with a high demand for rentals.
- Inspections are by appointment only.
Date updated: 24 Nov 2024 22:00:03

More Information

Financial Overview

Total Purchase Price: $895,000
Net Income: $ 164,499 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 270,000
_{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: 42
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 10
_{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: 17
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 70
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 91,186
_{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: 21 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: Mon - Fri 8 am - 5pm
_{Required Office Hours}

Complex Features: Modern low rise apartment complex situated in the southern region of Townsville, North Queensland. Common facilities include; onsite management, swimming pool, barbeque area and onsite visitor carparking. The complex comprises of 57 x two bedroom units, 12 x three bedroom units, 1 x Manager's Unit and a total of 70 residential lots.

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 270,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 1

Office On Title: 0
_{Is there a manager's office included on the title?}

Pets: yes
_{Can the manager own a pet on site?}

Unit Features: Two bedrooms, two bathrooms, open plan living area, modern appliances and stylish bench tops, covered private patio area, air-conditioning and secure undercover parking. A separate office located on site of the complex