OVER 9% Return - All reasonable offers considered.
This is a great opportunity to buy a fully leased site below replacement value.
If you're looking for a residential property investment opportunity with commercial property benefits, then this is the ideal investment. This property is ideal for self-managed super fund (SMSF) buyers or those considering a syndicated investment. The unit complex is centrally located, within walking distance to the Mackay CBD. These units would sell individually for $280,000 to $320,000.
- 3 years old
- 8 x 2 bedroom / 1 x bath / single lock-up garage apartments
EACH UNIT OFFERS
- 2 x bedrooms with built-in wardrobes, ceiling fans and split system air-conditioning
- single bathroom
- modern, stylish kitchen
- combined living and dining with air-conditioning
- private balcony
- single lock-up garage in an undercover secure car park
- modern, contemporary living with easy access to Mackay CBD shops, restaurants, schools, transport and businesses.
KEY INVESTOR BENEFITS
- no body corporate fees
- over 9% return (subject to finance structure)
- opportunity to strata title and sell down unit/s
- NRAS incentives on all units (7 years remaining) - generating over $700,000 ($88,000 p.a.) in tax free income over the next 8 years
- projected rental income over $74,000 p.a.
- healthy depreciation schedule
- weekly rent between $180 - $199 per unit
- $74,880 per annum in rental income
With the owner looking for a result, now is the time to register your interest. As the complex is only 3 years old it has attractive tax depreciation benefits. The median sale price for units in Mackay is currently $257,500 (this includes a mix of new and old stock), with this prime property calculating to a value of $2,060,000. This is great buying opportunity well under market value.
WHAT MORE DO YOU WANT?
A total of 8 units with NRAS allocations for another 7 years. $74,880 per annum in rental income PLUS NRAS $88,000 per annum allocation totals a massive $162,880 per annum - a HUGE +9% return.
The Mackay property market has entered a recovery phase meaning this is your opportunity to profit from an astute purchase. Gain the benefit of strong cash flow and generating a development profit by strata titling the complex when the timing suits you.
Call Ryan today on 0429 090 200 to find out more!