Permanent Complex - Karmawaters

Residence (3Bed 2Bath 2Car)           $530,000

Business                                            $160,000

Total Investment                                            $690,000

This spacious 3 Bedroom Apartment with excellent entertainment facilities is much loved by the current owners but the time has come for them to devote more of their time with their Children and Grand Children (who are scattered all over Australia). The huge 50 square metre car park storage area is idea for those wanting a workshop or somewhere to store their Toys! Mens Shed comes to mind!


This Management Rights can be easily run by one person and gives you the freedom to relax or expand your other business or personal interests. The choice is yours.

The Facts
Management Rights Business
- Net Profit of $53643 - Body Corp Remuneration $40263
- Managers Unit $530,000
- Business Price $160,000
- Multiplier 2.98 times
- Total Listing Price $690,000

Additional Income ($2600 + $6600 = $9200 makes total of $62843 - multiplier of 2.55 Times
- Grounds Maintenance Contract on adjoining property $2600 pa

Additional Rental Business - Full Real Estate Licence Require
- 5 External Rental Apartments generate additional $6600 pa - expenses already included in Net Profit of Management Rights Business
- Sale of Apartments NOT INCLUDED in Net Profit - Average of $15,030 earned over past 2 years working as a Local Agent Contractor.

The opportunity is there for the taking - Don't miss out - Act Today and Contract the Listing Agent.

MORE INFORMATION

FINANCIAL OVERVIEW

  • Total Purchase Price: $690,000
  • Net Income: $ 62,843 (actual)
    This is the combined total income acheived by the business after expenses, before tax.
  • Included Real Estate: $ 530,000
    The value of on-title property included with the business. Its price is included in the Total Purchase Price.
  • Multiplier: 2.5
    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: 12
    Number of units the manager is authorised to manage.
  • Owner Occupiers: 11
    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: 3
    Number of units being rented by other agents (these could potentially be acquired by the manager).
  • Units In Complex: 27
    The total number of units within the complex.
  • CARETAKING

  • Remuneration: $ 40,263
    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: 21 years
    How long remains on the caretaking contract before it must be renewed?
  • Agreement Age: 11 years
    How long has the management rights existed.
  • Office Hours: None
    Required Office Hours
  • Complex Features: Karma Waters is located adjacent to the Pelican Waters Shopping Complex on the Beautiful Sunshine Coast. The new Marina and the existing Pelican Waters Tavern make Karma Waters a very desirable location to call Home. Karma Waters has spacious 2 and 3 bedroom apartments over 3 levels with secure car parking below. Inviting swimming pool and under cover BBQ area are appreciated by residents and their guests. Karma Waters is a lovely place to call home.
  • REAL ESTATE COMPONENT

  • Manager's Unit: 3 2
  • Included Real Estate: $ 530,000
    The value of on-title property included with the business. Its price is included in the Total Purchase Price.
  • Manager's Car Spaces: 3
  • Office On Title: 1
    Is there a manager's office included on the title?
  • Pets: Yes
    Can the manager own a pet on site?
  • Unit Features: Designed for Long Term comfortable living with excellent out door entertainment. Refer to the photos in this listing. Large kitchen, dining and living areas are ideal for the whole family and the out door courtyard with BBQ, built-in cupboards and fridge makes entertaining a breeze. The Managers unit was designed as a 3 bedroom plus study apartment. The study is located just off the main entry door before coming into the living area of the apartment. Current Owners have converted the 2nd bedroom into the main office and have the ability to greet tenants and owners through the bedroom window. refer photo in the listing. The air conditioned Master Bedroom not shown in photos opens onto the garden and is secured via mesh security screens. Apartment has two side by side car parks both with storage cages on title plus one single car park via an occupation authority. Huge 50sqm storage cage is also provided via an occupation authority and is ideal for the Mens Shed or simply for additional storage. Looking for a Home with additional income then look no further - come and inspect Karma Waters
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    CONTACT

    Chris Hinkly for more details
    chris@localagent.net.au
    0411 023 672