Block of Units for sale
Block of Units in Bundaberg South, QLD
8 4 4
ATTENTION INVESTORS: POSTIVELY GEARED PROPERTY WITH NRASCompleted in 2013 sits this unit complex consisting of 4 x 2 bed, 1 bath, 1 car low set brick units. The complex is under the Governments NRAS Scheme. The government funded NRAS allocations have run out so don't miss this opportunity to secure fantastic returns here taking advantage of the NRAS grant. The Government National Rental Affordability Scheme (NRAS) Grant is applicable to each of the units which means you will receive approximately 4 x $9,500 = $38,000 per annum (please note these are approximate amounts, statements are available upon request) until around 2023 at tax time. Add this to a rent return of approximately $212 per week being approximately 80% of market rent and you have a rental return of approximately $848/wk totalling around $44096 per year before management and other NRAS fees which are applicable are taken out. Please note that now this unit complex and NRAS scheme is established and has been underway for a few years now you can request the statements so far and look at all of the figures accurately that the vendors have been receiving. Being near new you can also benefit from a depreciation schedule for years to come. Being near new you also have no headaches with things going wrong and maintenance issues that can arise from an older property. Please also note that the your taxable income is taken after the rent received but before the NRAS incentive payments of which are tax free are received. Once you look at the statements that are available you will find you are buying a positively geared property that will remain positively geared in years to come even when interest rates go up once the market has benefited from strong growth.
The NRAS Scheme is about providing affordable housing for people. They are to be rented at 80% of market rate making for more affordable housing. The benefit for the investor is that charging a tenant 80% of market rent you will have minimal vacancy rate. Tax is worked out at the 80% income. The benefit for the investor comes in with the tax free government grants, part federal, part state. Positively geared while under the scheme with the market likely to have increased in value once the scheme has come to an end in 2023.
The owners are looking to move forward on another project so have decided to sell this one to give them the cash to do so.
Your units include:
- Quality brick and colorbond low maintenance construction
- Generous electrical fitout
- Latest appliances throughout
- Quality carpet and tiles
- Full concrete package included
- 3,000 litre rainwater tank per unit
- Fully landscaped
- Air-conditioning to main living
The complex is fully finished and tenanted with long leases.
If this grabbed your attention, give Tim a call today and arrange an inspection.
At a Glance:
Bedrooms: 8 (2 per unit)
Bathrooms: 4 (1 per unit)
Toilets: 4 (1 per unit)
Garages: 4 (1 per unit)
Building Size: 445.01 m (48 squares) approx
Land Size: 1012 m (approx)
Safety switch: Yes
Smoke Alarms: Yes
The information provided is for use as an estimate only and potential purchasers should make their own enquiries to satisfy themselves of any matters.
Last updated: 06:45PM on Nov 1st 2017