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2.4 MULTIPLIER - ON THE WATER
$775,000
Resort / Holiday Management Rights, SURFERS PARADISE QLD
This boutique three-storey Walk-Up complex is on the river and in the heart of Surfers Paradise. Only five-minutes' walk to the famous Cavill Mall and tram station. And set alongside the Nerang River with a jetty for boating and fishing.
A delightfully renovated 2-bedroom, 2-bathroom manager's apartment with office on title, for sale at a very reasonable price of only $600,000.
The Management Rights business itself has easily managed gardens and no set office hours ensuring a great work-life balance. With a total 16 units in all, the business has seven in the letting pool. For much of the year these units are let on a permanent-longer term basis, however historically they revert to short term-holiday letting throughout "Schoolies" and the peak holiday season for approximately 3 months of the year.
Net income of $73,500 includes a generous Body Corporate salary $26,000 representing a wonderful opportunity for a smart business operator. Current Caretaking Agreement has 24 years remaining.
One operator can easily manage this attractive business package.
More Information
- Total Purchase Price: $775,000
- Net Income: $ 73,531
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 600,000
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?