Easily Run Large Income Complex

$3,330,000

Permanent management rights, Dinmore QLD

Large sized western suburbs management with large income and very easily run.

Main Attributes

Ipswich central is just 15 minutes drive away and Redbank Plaza and Costco within a few minutes drive.
Bus stop at the front door and park and ride railway station within a 5 minute walk.
The townhouses are all 3 bedroom, 2 bathroom, single lock-up garage with second vehicle space.
Spacious manager's unit with double lock-up and extra parking, fully air-conditioned and ceiling fans throughout.
Huge income increasing monthly.
Rents increasing at every lease renewal and no shortage of inquiry.
Very heathy Body Corporate Salary which increases with CPI which have been significant. Increases again in July.
No requirement to live on site.

More Information

Financial Overview

Total Purchase Price: $3,330,000
Net Income: $ 503,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 570,000
_{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: 111
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 19
_{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: 16
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 146
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 220,490
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 24 years
_{How long is the caretaking contract.}

Agreement Remaining: 24 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 7 years
_{How long has the management rights existed.}

Office Hours: None on Agreements
_{Required Office Hours}

Complex Features: Easy to manage with all grass done with ride-on mower and whipper snipper, All equipment and consumables paid by Body Corporate, Spray weeding done as required and no facilities to maintain, Separate single lock-up garage equipment storage and area beside that could be built in for further space that currently houses an 1100litre skip bin at the managers disposal, Large sinking fund budget in place, no requirement to live on site - rent the unit for extra income if required

Real Estate Component

Manager's Unit: 3 2

Included Real Estate: $ 570,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}

Manager's Car Spaces: 4

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

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

Unit Features: Double lock-up garage with parking for another 2 vehicles on apron in front of garage, All bedrooms, living areas and office are air-conditioned and ceiling fans in all bedrooms as well as living area lounge area and office, Office is fully built in with large storage and main bedroom robe is has built in shelves and double hanging, Good under stair storage area with further storage created in garage ceiling.