[Inner City, 5.3 Multiplier] $270K Net Income with great potential

Permanent management rights, Bowen Hills QLD

Business Highlights:

1.Prime Location: Exceptional convenience for transportation, shopping, and lifestyle.
2. Body Corporate Income:
– Salary income: $160,000.
– Salary accounts for 59% of total revenue, providing a stable income structure.
– Salary increases annually in line with the Consumer Price Index (CPI).
3.Letting Pool Income:
– $110,000 from managing a letting pool of 35 properties.
– The letting pool accounts for 45% of the total 78 properties in the complex, ensuring strong managerial control and ease of operation.
4.Net Profit: $270,000 annually.
5.Easy Maintenance:
– No requirement to maintain swimming pool water quality or equipment, only cleaning.
– No lawns in the complex, making it easy to manage.
– No Office Hours Required
6.Manager’s Residence:
– A 3-bedroom, 2-bathroom, 2-car space unit with two exclusive storage rooms and a spacious, bright office.
– The managers residence is currently rented out, generating additional income (not included in the net profit).
– Significant potential for property value appreciationan excellent investment opportunity.
7.Additional Potential: Convert long-term rentals to short-term rentals to earn higher commissions.
8.Price Details:
– Business: $1.42 million.
– Manager’s residence and office: $940,000.
– Total: $2.36 million.