$325,000

Are you looking for an excellent investment property that ticks all the boxes? You have just found it. This top floor, water facing apartment is the best positioned apartment in the “La Bahia” complex. This apartment has had the same tenant for 8 years and she is comfortable, loves the proximity to everything and has looked after it like it’s her own. This apartment is currently in the National Rental Affordability Scheme (NRAS). The scheme is an Australian Federal Government initiative that provides Tax Free Cash Incentives indexed annually to certain residential property investors. By providing an affordable rental option for low to moderate income families and individuals, the investor receives their weekly rent plus the National Rental Incentive each year. The current 2018/19 NRAS incentive of $11,192.13 is made up of an Australian Government Contribution of $8,394.10 and a State Contribution of $2,798.03 With the apartment being rented for $296 per week (market rent is reduced by 24.99% for low income earners) + the government incentive of $11,192.13, this investment is returning a potential gross yield of 7-7.5%. A fantastic return on a great community initiative. Now that you know the benefits of being in the NRAS scheme, here is what your tenant benefits from: • Top floor, 5th level, water facing apartment • Located “East of Oxley” in walking distance to cafes, restaurants, chemists, specialty shops, supermarket, the waterfront and all amenities you will need! • Large balcony to entertain with water views • Large open planned air-conditioned living with water views • A/c Master bedroom with built-ins, ensuite, water views and access to balcony • 2nd bedroom with built-ins • Main bathroom • Separate Laundry • Large Kitchen with stainless steel appliances including dishwasher and plenty of cupboards and bench space • Tiled Kitchen, carpeted living • Roller blinds to living/master and 2nd bedroom • 9-foot ceilings • One tenant since new (8 years), kept in great condition • NBN about to be installed • Gated secure car space ** The Rates are $467.85 per quarter. ** The Water average over the last six months is $269.36 per quarter. ** The approx Body Corporate fees are $1355.10 per quarter. This is the best value for money apartment in the complex and will be very popular. Call Mathew today on 0409 275 107 to arrange a private inspection.