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First Time For Sale in 20 Years!
$1,298,000
Permanent management rights, Southport QLD
Long-term seller has now decided to retire after 20 years creating a great opportunity to acquire a solid permanent management rights business in a strong rental area.
Sought-after location close to public transport, tram, and easy walk to shops and entertainment/dining options.
This business is easy to run and would ideally suit one person or a couple with one person working outside the business. Separate office on title, manageable workload and no set office hours
Large 3 bedroom, 2 bathroom manager's residence with 2 separate living areas with enough space for a family. There are also 2 large balconies and 2 secure underground car spaces. Total area is 218 sq. metres including outdoor areas.
Generous body corporate salary of over $86,000 per annum plus GST offers a stable income with potential to increase the net profit due to the number of outside agents.
With 56 units in the complex and 21 in the letting pool, this business would even suit a first-timer or someone wishing to downsize from a larger business.
More Information
- Total Purchase Price: $1,298,000
- Net Income: $ 114,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 895,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 3.5
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?