SMALL PERMAMENT COMPLEX IN SOUTHPORT - ID 8381

$875,000

Permanent management rights, Southport QLD

Permanent Management Rights For Sale
Easy To Manage Gated Estate

- 38 unit complex
- Long standing managers selling after 10 years
- 15 units in the letting pool
- Body Corporate salary $67,000 + GST
- No office and no office hours
- Trust accounting software is Caretaker
- Accommodation Module with 24 years remaining on agreements
- Average rents of $350-$420 per week
- 2 bed, 2 bath open plan manager's residence
- Limited facilities include small pool and BBQ

Permanent management rights complex in a prime location, secure gated estetae with minimal caretaker duties. The manager's residence is quiet and secure. Easy to manage letting pool, would suit semi-retired or first time operator.

Net Profit: $75,000
Asking Price: $875,000
(Inclusive of manager's real estate)

More Information

Financial Overview

Total Purchase Price: $875,000
Net Income: $ 75,000 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 575,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.0
_{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: 13
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 22
_{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: 3
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 38
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 67,000
_{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: 24 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 29 years
_{How long has the management rights existed.}

Office Hours: No set office hours
_{Required Office Hours}

Complex Features: Swimming pool, BBQ

Real Estate Component

Manager's Unit: 2 2

Included Real Estate: $ 575,000
_{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: No
_{Can the manager own a pet on site?}

Unit Features: Light and spacious with open plan living, Two bedrooms, Two bathrooms, Separate laundry, Well appointed kitchen, Large private outdoor area for alfresco dining, One car park on title plus additional storage, Air conditioning, Ceiling fans, Pet permitted with Body Corporate approval.