Management Rights - Banora Point, NSW

Banora Point, NSW

$865,000

Property Description

4.3 Multiplier BLUE SKY more $$ to be made - Great Location! - Great income

A well presented and attractive complex of fifty four town houses is situated in the heart of Banora Point. close to excellent schools, shopping, clubs and bus. It comes with a tastefully renovated three bedroom town house with timber floors, tiled bathrooms, stainless steel appliances and covered outdoor living area. It has a fully enclosed rear garden and is pet friendly. In return for gardening duties with flexible hours and the management of 17 permanent rental properties it provides an income of $100,000 per year. All this for only $865,000!
Current Managers are earning extra income (10K) with doing works outside complex and this is not on the P and L but is in place for new Managers.
Repairs and Maintenance income is an extra 10K a year and is NOT in the
P & L. So all in all you are getting an extra 20K a year for FREE. There is also more income to be made outside complex with neighbouring complexes with someone with a good work ethic, but current Managers have run out of puff.
All gardening equipment is supplied and maintained by the body corporate including a ride on mower. Long management contracts provide certainty and will assist purchasers considering finance. All systems are in place to ensure an easy transition to your new lifestyle! New managers who are prepared to take on repairs and maintenance will generate additional income!!

Managers Townhouse $435,000.
Management Rights $430,000.
Net profit $100,000.
Total price $865,000.

To inspect this business please contact the agent Kerrie Lush 0416 084 693 or email
kerrie@raas.com.au
Financial Overview

Body Corp Salary:
58000
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
CPI
Net Profit:
$100,000
Manager's Unit Price:
$435,000
Management Rights Price:
$430,000
Letting Business

Est. Year Built: 1996
Total Units In Complex: 54


Inside Letting Pool

Permanent: 17
Holiday: 0
Corporate: 0
Total: 17

Outside Letting Pool

Lock Up: N/A
Outside Agents: N/A
Self Managed: N/A
Owner Occpd: N/A
Total: N/A

Number & Type In Letting Pool
Number Type Features
3 Bed Townhouses
2 Bed Townhouse
0 Bed
Tariffs

Booking Type Details
Permanent rentals with mixture 2 and 3 bedrooms $350-$440
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 1 Bathroom
Office Reception: On title.
Office Software: REI Master
Office Hours: No set office hours.
Storage: 3 Sheds exclusive use.
Office Computer: Yes
Module: Other
Agreement Term: 25
Years To Run: 25
Manager's Unit Description: Well presented renovated 3 bedroom townhouse. Timber floors, tiled bathrooms, stone bench tops and covered alfresco dining.

Facilities

Pool: Yes
Spa: No
Gym: No
Tennis Court: No
Sauna: No
Foxtel: No
Cable Installed: No
Pets Allowed: Yes
Barbeque Area: Yes
Wireless: No

Other Facilities: Close to quality schools, shopping, clubs and bus.

Property Agent

Christopher Jones

Christopher Jones

Phone: 0416084693
Office: 1300 282 370

Email Listing Agent

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