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Outstanding Permanent MLR in Southport with Genuine Flexibility&Solid Returns | Resort Brokers ID : MR008243
$3,828,000
Permanent Management Rights, Southport QLD
ResortBrokers presents to the market the stunning Allegra Apartments. A modern complex situated in Southport offering an attractive 13% ROI. Suited to experienced operators or newcomers, this business enjoys genuine management flexibility with easy duties for one operator and no requirement to live onsite or set office hours.
Strong historic financial performance the business has a Net Profit exceeding $500K which is underpinned by 24 years remaining on the agreements. Current owners are moving on to other ventures resulting in a golden opportunity for an astute buyer to acquire this quality, no-nonsense management rights business.
- Robust Net Profit consistently exceeding $500K
- Long-term security with 24-year accommodation module
- Stable income from secured letting pool of 79 out of 115 units
- Minimal duties due to absence of common facilities
- Significant potential for additional repair and maintenance income
- Flexible management with no set office hours
- Manager's ocean-view unit2 bed / 2 bath / 1 car- no requirement to live onsite - $770K
- Additional rental income potential of circa $35,000 per annum
- Inspections by appointment only
Date updated: 27 Nov 2024 22:00:01
More Information
- Total Purchase Price: $3,828,000
- Net Income: $ 501,060
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 772,000
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?