Brisbane Permanent Inner City Permanent MLR with $370K Net Profit! | Resort Brokers ID : MR008237
$2,953,777
Permanent Management Rights, South Brisbane QLD
Price Reduced! Fantastic opportunity to secure a profitable business with associated office and apartment in a central location of vibrant South Brisbane/West End border! The management rights to Canvas offers potential for growth with work flexibility and long tenure on agreements.
- Striking mid-size complex offering 141 apartments with 59 in on-site letting pool
- Verified net profit of $373,927 by industry accountant
- Body Corporate salary $219,702 p.a.
- Over 21 years remaining on Caretaking and Letting Agreements
- No set office hours giving flexible lifestyle opportunity for incoming managers
- Spacious 2B/ 2B bath manager's unit with attached 27sqm office - $785,000
- Manager required to live on-site
- Permanent complex with no short term lettings
- Prime location close to key amenity, transport, entertainment& employment hubs
- All inspections by appointment only
Date updated: 24 Sep 2024 23:00:02
More Information
- Total Purchase Price: $2,953,777
- Net Income: $ 373,927
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 785,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 5.8
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
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?