Located within walking distance to the Nerang Railway Station this superbly positioned 2 bedroom unit is located in the ‘Lexington Apartments’ development which was completed in late 2011.
Currently set up with NRAS Benefits, this property offers investors great cash back incentives by the federal and state Governments for another 3 years.
* Two spacious bedrooms, ensuite to main bedroom
* Modern kitchen with stainless steel appliances, stone benchtops and microwave space
* Air conditioning in main living
* Ceiling fan in bedrooms
* Large private courtyard
* 111sqm floor plan including balcony
* Keyless secure carpark for 2 cars
* Large common courtyard
* 150m walk to the Nerang Railway Station.
* 200m walk to the bus exchange
* Body Corp $75 p/w approx
* Rates $34.53 p/w approx
* Water $23.96 p/w approx
This property is currently tenanted with NRAS Benefits, but has a regular rental appraisal of $390 to $420 per week.
The owner has provided us with the following figures; these figures include all government incentives.
***TOTAL INCOME - $27,172***
NRAS State $2,758
NRAS Federal $8,336
***TOTAL EXPENSES - $9,248***
Horizon Management Fees $1,927
Body Corporate $3,980
***NET RETURN - $17,924***
This property still has approximately 3 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.
This is a no brainer.