Kallangur
$1,292,000
3
2
2
Management Rights
- 61 Total Units
- Permanent Complex Type
- 9 Letting Pool
- $119,670 Remuneration
- $133,718 Net Profit
- $800,000 Manager's Unit
- Pets Allowed, Pool Features
Property Description
3.7 MULTIPLIER - NO NEED TO LIVE ONSITE
Priced to Sell! This well presented medium sized residential Management Rights business has plenty of opportunity for significant growth. As there is no requirement to live onsite, the incoming manager has the option of living and working within this charming townhouse community or earning rental income from the Manager's residence, a standalone villa on 345m2 of land, featuring 3-bedrooms, 2 bathrooms and 2 car garage. Office is on title with no fixed office hours. Backed up by a supportive Body Corporate Committee and a recent top up to the Management Agreements to 23 years, this business is solid and a recommended acquisition. Easy-care gardens are the Caretaker's primary responsibility within this complex. Whilst currently, much of the total net income of $133,718 p.a. is sourced from the Body Corporate Salary of $119,000 (ex-GST), there exists a large component of the complex's letting pool that is presently managed by outside agents. This represents an attractive opportunity to turn this business around and reap the monetary rewards! Situated in a prime location, this lovely townhouse complex offers unbeatable convenience: - Kallangur Train Station, Aldi Supermarket and Kallangur Fair are all within a short walk. - Kallangur State School, Murrumba State Secondary College and Westfield North Lakes, are all within a 10-miunte drive. Contact Bobo Qi now for more details and inspection.
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