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248K NET INCOME - BUY OFFICE ONLY! - PRESTIGE APARTMENTS
MLR $1,493K + OFFICE $250K
Permanent Management Rights, TENERIFFE QLD
We are excited to now offer this Brisbane Management Rights package to the market.
Discerning buyers will understand the underlying value of this outstanding business proposition. Do the maths. A significant return on your investment awaits. Real estate component for this acquisition is for the ground floor On-Site Office only! No apartment to buy! This real estate gives the manager the same voting rights as owning one of the building's apartments, without the additional capital outlay! In this case the capital required to invest in the office is a modest $250,000 against the business purchase price of an affordable $1.493,000. TOTAL PRICE $1,743,000.
Factor in Net Income at $248,000 p.a. of which $164,000 is comprised of Body Corporate Salary, and you begin to appreciate the true value of this business enterprise.
No swimming pool within the building and no requirement for the Manager to live on-site. Furthermore, the quality of this building is high, and maintenance is low.
An opportunity exists for an enterprising incoming Manager to significantly increase the businesses bottom line with fourteen apartments currently let by outside agents and not yet in the onsite letting pool.
Enjoy the ambience of the stylish and modern building, offering one and two bedroom apartments catering to an ever-growing demand of quality tenants, particularly from high income earning young professionals and 'empty nesters'.
Located within Brisbane's most vibrant inner-city suburb, Teneriffe residents are immersed in the riverfront lifestyle surrounded by historic buildings and a leisurely stroll to the river boardwalk to enjoy amazing restaurants, shops, bars and cafes.
Transport is a breeze, with regular bus and ferry services providing hassle free access to the CBD.
Don't hesitate. Jump on the phone now and request an exclusive on-site inspection.
More Information
- Total Purchase Price: MLR $1,493K + OFFICE $250K
- Net Income: $ 248,880
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This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
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