On offer is a sizeable business-only management rights portfolio consisting of two side-by-side buildings located in Brisbane’s inner north. Boasting a net profit of $403,000 underpinned by a body corporate salary representing close to 70% of income. This established business will have strong appeal to both experienced operators and first-time buyers looking to secure a major foothold in the industry and a business with strong growth potential. Together they host a total of 222 apartments with a permanent letting pool of 37 units.
Both towers have simple, straight-forward caretaking duties with the primary focus being on common area cleaning and minimal gardening.
Upside potential via conversion of 31 externally managed units back into the letting pool - plus the opportunity to establish a residential sales business and further expand profitability. With no real estate outlay, no requirement to live onsite and no set office hours this optimises operational flexibility.
LOOKING FOR A BIGGER NET PROFIT? READ ON….
We have a separate off-market business-only portfolio for sale within the same street. Acquiring both portfolios would take the combined income to over $800,000 with no real estate component. Across the two portfolios, there are estimated 80 externally managed units which indicates substantial income growth potential.
Contact Jeff today to make an inspection!
Interested? Why not give Jeff Keast a call on 0414 669 007 or jeff@resortbrokers.com.au
