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Unsurpassed Luxury Management Rights $600k Net Profit - Mid North Coast NSW
$2,700,000
Resort / Holiday management rights, Forster NSW
As exclusive agents, CRE Brokers are proud to present Sevan Apartments, a magnificent Mid North Coast property located in the heart of the Forster town centre with wonderful views of the lake, town and ocean.
The Property: 37 Luxury Apartments - 30 in the letting pool and no external agents
Financial Performance: Proven and consistent financial returns - 73% occupancy and ability to increase tariffs each year since opening in Dec 2007
Managers Residence: Quality appointed and spacious 2 bedroom 2 bathroom modern residence
Salient Points: Widely considered the premier accommodation complex in Forster with outstanding relationship with the Body Corporate and Owners in a consistently thriving accommodation region
Reputational Excellence
Quality Tourism Accredited 4.5 star rating
TripAdvisor - 4.5/5 Very Good
Expedia - 9.4/10 Exceptional
- 8.8/10 Excellent
Business Price: 2,000,000
Unit Price: $700,000
Total Asking Price: $2,700,000
More Information
- Total Purchase Price: $2,700,000
- Net Income: $ 600,968
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 700,000
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 3.3
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?