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Exceptional Value - $325k net profit in prime city-fringe at sub 5x multiplier | Resort Brokers ID : MR007841
$2,367,000
Permanent Management Rights, TOOWONG QLD
You wont find a better bang for your buck at a 4.97x multiplier than this reputable and well-maintained MLR business backed by a strong BC salary representing 70% of the income. The coveted management and letting rights plus associated real estate are situated in popular Toowong, just 4km to the Brisbane city centre.
Run under a single scheme, this sought-after complex has recently topped up caretaking and letting agreements providing security of long tenure for the incoming manager and demonstrating a supportive working relationship with the committee.
The property boasts excellent on-site facilities, featuring a ground-floor office on title and a spacious 3-bedroom, 2-bathroom manager's unit. Priced at $750,000 for both, this represents incredible value and a desirable solution for a family to live comfortably on-site alongside potential income generation. Whether opting to reside onsiteor rent out the manager's unit, this opportunity promises flexibility.
The proximity to top private or state schools enhances its appeal, making it an ideal choice for families looking to settle in the area.
- Solid net profit over $325,405
- 121 apartments over two towers
- One Body Corporate Scheme
- BC salary of $228,677 with annual CPI increases
- Permanent letting pool of 36 units with upside through outside agent conversion
- Separate freehold title office located on ground floor& 3 bed / 2 bath apartment - $750K
- Requirement to live onsite
- Option to rent out 3-bed manager's unit and reside in a 1 or 2-bedroom apartment
- Facilities include a swimming pool, spa, gym, and tennis court
- Long tenure remaining on accommodation module agreements
- Storage under OA
- Incredible convenience to shops, transport, education, entertainment and the city
- Inspections by appointment only
Date updated: 17 Nov 2024 22:00:02
More Information
- Total Purchase Price: $2,367,000
- Net Income: $ 325,405
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 750,000
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?