Kingston
$1,762,000
3
2
2
Management Rights
- 76 Total Units
- Permanent Complex Type
- 32 Letting Pool
- $117,587 Remuneration
- $181,555 Net Profit
- $800,000 Manager's Unit
- BBQ, Pets Allowed, Pool Features
Property Description
SOUTHSIDE BUSINESS - NO REQUIREMENT TO LIVE ON SITE
What an opportunity here! Representing an excellent return on your investment you cannot go past this terrific southside Management Rights business for sale. Your modest real estate investment of $800,000 is an affordable component of the overall business acquisition cost and waits for the astute business person to take the reins. Buyer's choice as to residing off or on-site. Manager's 3-bedroom townhouse is presently rented out at $550 per week ($28,000 p.a.) which is excluded in the business net profit of $181,000. The manager's office has a separate entry from the residence. A generous Body Corporate salary of $117,000 p.a. (ex GST) representing over 60% of net profit is on offer. Supported by over 22 years remaining on Management Agreements, there are no fixed office hours and a very cooperative committee. Furthermore, the management rights agreements have recently been topped up. The incoming purchaser will also acquire a quality onsite letting pool, all in high demand, due to Kingston's great location midway between Brisbane and the Gold Coast. This modern, secure, gated community has easy care grounds and no fixed office hours, allowing for a quality lifestyle for the incoming manager. The swimming pool is maintained by a professional pool shop, with technicians attending on-site. Genuine buyers, please do not delay your enquiries as this gem of a business won't last long in the present market!
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