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This modern contemporary apartment can be purchased and settled vacant or with the current tenant in place. The seller has just reduced the asking price to create outstanding value well below replacement cost.
For investors:
It's set to return $25,000 income over the next 12 months and even more each year for the next 5 years. Comparable 1 bedders in “Arbour on Charlotte” rent at $350 per week. This particular property participates in NRAS (National Rental Affordability Scheme) and attracts an even higher annual return. The property owner receives a lucrative government subsidy, in exchange the apartment is rented to carefully chosen, income tested and approved tenants who are provided a discounted weekly rent. Please see a summary of the NRAS investment opportunity below. Don’t hesitate contact me to find out more about this extraordinary opportunity.
For the Owner Occupier:
This property could also be purchased as vacant and ready to move straight in at settlement. Chermside offers a vibrant lifestyle and provides a host of restaurants, cafes and shopping to sooth the soul. Together with easy access to public transport, hospital and schools, it's hard think of a better place to put down roots.
At a glance:
* Generous modern 1 bedroom apartment on the 4th floor (south facing)
* Spacious internal: 56m2, Balcony 13m2 = Total 69m2
* Premium fixtures & fittings, ducted air con throughout
* Quality kitchen: gas cooktop, dishwasher, stone benches
* Split system air con to living & bedroom
* Luxury 2 way bathroom, walk through robe adjoins bedroom
* Designated car parking & direct lift access
* Rental appraisal $350 per week/Body corp fees: $51.85 per week
* Easy access to shopping, public trans, schools, hospital, etc
* Stroll to Queensland's largest shopping centre (Westfield Chermside)
NRAS financials:
* 5 years remaining in NRAS (exp: 29th March 2025)
* NRAS rent $266 p/w = $13,832 p/y
* NRAS annual Govt incentives $11,270
* Gross annual income = $25,102
* Property management fees -$3,007
* Council rates -$1400 (approx.)
* Body corp fees: - $2,682 p/y
* Projected net annual income: $18,013
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