Surfers Paradise
$1,368,000
2
2
2
Management Rights
- 39 Total Units
- Resort/Holiday Complex Type
- 13 Letting Pool
- $77,354 Remuneration
- $207,533 Net Profit
- $680,000 Manager's Unit
- BBQ, WiFi, Pets Allowed, Pool Features
Property Description
3.3 MULTIPLIER! GROWTH OPPORTUNITIES
Significant net income growth, along with substantial capital gains, is very achievable upon the acquisition of this Management Rights business. Presently, outside agents control the same number of unit rentals as the onsite manager's entire letting pool. Under a new, motivated and capable manager bringing these outside agent lets into the onsite letting pool will be financially rewarding. Currently, Body Corporate salary is $77,000 p.a. + GST, increasing according to CPI each year. Total net income is over $207,000 with multiplier of around 3.3! A review of the businesses Profit & Loss Statement will confirm the possible exponential profit growth scenario as outlined above. The complex itself is a lovely 3-storey walk-up building in Surfers Paradise, located in an especially peaceful oasis. The one-bed room units, make it easy to secure bookings and maintain revenue for investors in the holiday letting pool. The renovated manager's unit is the only 2-bedroom, 2-bathroom unit in the complex. And with 2 car spaces, a good-sized office attached and a private backyard. It is also a pet friendly building. This holiday business is also attractive to local travellers and businesspeople, as it is within walking distance to the beach, and close to Star Casino, Pacific Fair Shopping Centre, Cavill Avenue, and the Gold Coast Convention Centre via nearby G-link tram station. Does this central Surfers Paradise Management Rights business appeal to you? Then you are more than welcome to arrange an exclusive inspection with me!
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