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Prestigious Permanent MR business in a very popular precinct with solid income | Resort Brokers ID : MR007868
$1,200,000
Permanent Management Rights, South Townsville QLD
Situated in the well-sought-after location of Palmer Street known as the city's south bank, this is a modern permanent lifestyle business with easy caretaking duties.
With 13 units in the letting pool and no set office hours in place, there is additional upside on offer with the inclusion of extra rentals currently being managed in the adjacent building.
Perfectly set up for first-time operators and a location that is hard to beat. This is an excellent permanent letting business, and inspection is a must.
- Strong net profit
- Sought-after location with water views
- Easily managed complex with systems in place for smooth transition
- Spacious 2-bedroom manager’s residence
- Opportunity to increase the income/rental pool
- Very comfortably managed by husband and wife
- Property inspections are by appointment only
Date updated: 17 Nov 2024 22:00:02
More Information
- Total Purchase Price: $1,200,000
- Net Income: $ 198,215
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 510,000
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.
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?