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PREMIUM LARGE SCALE PERMANENT COMPLEX IN WOLLI CREEK NET OVER $540K | Resort Brokers ID : MR008466
$3,090,000
Permanent Management Rights, WOLLI CREEK NSW
ResortBrokers presents a unique and rare management and letting rights business in Sydney! Don't miss out on this incredible opportunity to acquire a fully established and exceptionally well-managed large permanent apartment complex in a popular Sydney suburb.
- Newly topped up 10 year agreement, as of March 2024
- Verified net profit of $541,936 per annum
- Excellent security for incoming owners with BC salary comprising 62% of income& linked to CPI for review
- Complex consists of 253 apartments with a broad mix of unit types creating strong rental appeal
- Business comes with 16 external letting appointments and 99 in the onsite letting pool
- Opportunity to significantly increase bottom line through conversion of external agents circa 30 lots
- Superb on-site operational facilities under freehold title - office/reception, storage and carpark - $380K
- Beautifully maintained grounds with heated indoor pool, spa, sauna, gym and BBQ area and CCTV
- BC improvements underway to some external areas
- Great location with easy connectivity that has high rental demand
- All inspections by appointment only
Date updated: 12 Jan 2025 22:00:04
More Information
- Total Purchase Price: $3,090,000
- Net Income: $ 541,936
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 380,000
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?