A unit located in 121/SP243241 Nerang QLD. Properties with similar attributes have sold for approximately $320,000. Constructed in 2012, featuring 2 bedrooms and 1 bathroom.
LOOK AT THE RETURN ON THIS UNIT- CENTRALLY LOCATED. Located within walking distance to the Nerang Railway Station is this superbly positioned 2 bedroom unit. Located in the 'Lexington Apartments' development and completed in 2012 this lovely unit has separate street access and a very large balcony with large grassed courtyard. With a high 7% yield you will do well to find a better return. Features Include:Master bedroomSecond bedroom/studyModern bathroom Quality kitchen with stainless steel appliances, stone benchtops and microwave spaceStainless steel dishwasher and range hoodLarge Laundry with dryerAir conditioning, ceiling fans & security screensDouble balcony with large outdoor area and yard with separate street accessKeyless access to secure parking for 1 car spaceHotel like lobby area with large common courtyardNRAS approved with 7% returnSeparate water meter (charge tenants)Around 7 Years OldUnit size in total 101m2Body Corp $58 p/w approx.Rates $33.25 p/w approx.Water $23.96 p/w approx.Great location next to Nerang rail station and bus links, close proximity to the M1, shops and Metricon Stadium.Currently set up with NRAS Benefits, this property offers investors great cash back incentives by the federal and state Governments for another 3 years.This property is currently tenanted with NRAS Benefits, but has a regular rental appraisal of approx. $350-$360 per week.The owner has provided us with the following figures; these figures include all government incentives.***TOTAL INCOME - $26,792***Rent $15,600NRAS State $2,798NRAS Federal $8,394***TOTAL EXPENSES - $7,847***Horizon Management Fees $1,248Body Corporate $3038Rates $1,729Water $1,172Insurance $300***NET RETURN - $19,305***This property still has approximately 3.5 years to run on its NRAS contract, is professionally managed by Horizon Housing Solutions and is a secure risk free investment for the savvy investor who understands the outstanding growth opportunity this offers.Disclaimer: Blench Property Group and its employees cannot be held responsible for any inaccurate details supplied here. We have in preparing this information used our best endeavours to ensure that the information contained herein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, omissions, inaccuracies or misstatements that may occur. Prospective purchasers should make their own enquiries to verify the information contained herein.