Management Rights - VARSITY LAKES, QLD

VARSITY LAKES, QLD

Offers over $1,650,000

Property Description

VARSITY - 3 COMPLEXES IN THE SAME VICINITY, LIVE OFF SITE!

3 Corporate complexes, very very good income, room for improvement. Near Bond Uni and the heart of Varsity.

3 complexes in a close vicinity, Very low maintenance and hardly any gardening

Only one managers unit to buy, one office to buy, and LIVE OFF SITE!

Managers unit is currently being let out for $500 a week NOT IN P & L. High rental rates

GREAT RELATIONSHIP WITH ALL BODY CORPORATE

A rare opportunity to purchase 3 complexes in the one area!

Office is $100K Unit is $465,000 MR is $1,090,000 Million

Heaps of upside with repairs and maintenance to do and heaps of outside agents to get back into letting pool. Owner wants to buy complex in Brisbane so needs to sell for this reason.

Call Kerrie Lush 0416 084 693 or email kerrie@raas.com.au
Financial Overview

Body Corp Salary:
177000
Anniversary Of Body Corporate Salary:
Body Corporate Salary Review:
cpi
Net Profit:
$244,500
Manager's Unit Price:
$565,000
Management Rights Price:
$1,090,000
Letting Business

Est. Year Built: 10
Total Units In Complex: 102


Inside Letting Pool

Permanent: 33
Holiday: 0
Corporate: 0
Total: 33

Outside Letting Pool

Lock Up: 0
Outside Agents: 37
Self Managed: 0
Owner Occpd: 32
Total: 32

Number & Type In Letting Pool
Number Type Features
2 Bed
0 Bed
0 Bed
Tariffs

Booking Type Details
Permanent
Corporate
Holiday
Manager's Unit & Office

Manager's Unit Size: 3 Bedrooms , 2 Bathroom
Office Reception: yes
Office Software: REI Master
Office Hours: none
Storage: yes
Office Computer: yes
Module: Accommodation
Agreement Term: 10 , 25, 25
Years To Run: Refer to Information Memorandum
Manager's Unit Description: 3 Bedroom + Office/ 2 Bathroom , Managers unit. Modern design.

Facilities

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

Other Facilities: This is three complexes sold together as one. They are virtually next door to each other with only one office and unit to buy. There is no lawns or gardens to do so can be run if you wish by one person. There is 6 outside rentals which earn 13k a year with a multiple of 2 x
Total income is $231,500 (with outside rentals coming in at 13K on top of the current 231K) $1090 Million at an asking price which is an average of 4.6 multiplier. I am sure you will agree very reasonable. Unit 465K and office is at 100K. Upside to this business with 37 outside lets to get back into rental pool and currently no repairs and maintenance being done. The rental of the managers unit is $500 a week which is not in the P and L.

Property Agent

Kerrie Lush

Kerrie Lush

Phone: 0416 084 693
Office: 1300 282 370

Email Listing Agent

Subscribe to emails:  
Copyrights © 2017 All Rights Reserved by Raas Group. Privacy