Large Salary with No Requirement to Reside Onsite

$1,599,000

Permanent management rights, Mudjimba QLD

This resort will suit those looking for a large Body Corporate salary.
The complex has excellent facilities to satisfy all occupiers & the patrolled surf beach is only a short drive away.
Neat & well-planned resort with security gates to the entrance.
Brand new agreements with no requirement to live onsite.

More Information

Financial Overview

Total Purchase Price: $1,599,000
Net Income: $ 229,758 (actual)
_{This is the combined total income acheived by the business after expenses, before tax.}
Included Real Estate: $ 545,000
_{The value of on-title property included with the business. Its price is included in the Total Purchase Price.}
Multiplier: 4.6
_{Estimated number of years till the Net Income reaches the Purchase Price of the business component. Other factors such as lifestyle, workload, location and offering should always be considered ahead of the multiplier when evaluating a Management Rights business.}

Letting Business

Letting Pool: 30
_{Number of units the manager is authorised to manage.}

Owner Occupiers: 77
_{Number of units resided in by their owners.}

Lock Ups: 0
_{Number of units owners are not renting out, but also do not live in.}

Outside Agents: 15
_{Number of units being rented by other agents (these could potentially be acquired by the manager).}

Units In Complex: 123
_{The total number of units within the complex.}

Caretaking

Remuneration: $ 188,820
_{This is the body corporate caretaker salary. It is included in the Net Income above.}

Agreement Term: 25 years
_{How long is the caretaking contract.}

Agreement Remaining: 24 years
_{How long remains on the caretaking contract before it must be renewed?}

Agreement Age: 0 years
_{How long has the management rights existed.}

Office Hours: Contactable
_{Required Office Hours}

Complex Features: Large resort style pool with waterfall feature, 2 full tennis courts, enclosed childrenâs playground area, golf putting green, covered BBQ area, A/c units