Fantastic Investment Opportunity

This modern complex of three units was built in 2013 and has good depreciation benefits.

The land has been rezoned to medium residential and may allow for redevelopment at a higher density (Subject to Council approval) on a 665m2 block.

These three units are rented under the NRAS scheme to assist people with low to medium incomes renting properties. The rent weekly payable is capped at below market returns and determined by the government. The Federal Government provides tax credits in relation to the shortfall in rent paid and the State Government pays an annual tax free payment.

The weekly subsidised rent for people on low-med incomes is
Unit 1) $280
Unit 2) $280
Unit 3) $280

Total Income is $43,680 + $33,505 (NRAS) which is tax free. $77,185

NRAS finishes in March 2023.

Expected rent in today's market would be $375 per week, per unit - $58,500

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School catchments

Northgate State School Primary Prep-6 Government 0.40km
Nundah State School Primary Prep-6 Government 1.2km
Mary MacKillop College Secondary 7-12 Catholic 1.2km
St Joseph's School Primary Prep-6 Catholic 1.4km
Virginia State School Primary Prep-6 Government 1.6km
Aviation High Secondary 7-12 Government 2.0km
Earnshaw State College Combined Prep-12 Government 2.3km
Our Lady of the Angels' School Primary Prep-6 Catholic 2.7km
Our Lady Help of Christians School Primary Prep-6 Catholic 2.7km
Hendra State School Primary Prep-6 Government 2.8km
Eagle Junction State School Primary Prep-6 Government 2.9km
Wavell State High School Secondary 7-12 Government 3.0km
Wavell Heights State School Primary Prep-6 Government 3.0km
Clayfield College Combined Prep-12 Independent 3.1km
St Pius' Primary School Primary Prep-6 Catholic 3.1km
Geebung State School Primary Prep-6 Government 3.2km
St Kevin's School Primary Prep-6 Catholic 3.2km
St Rita's College Combined 5-12 Catholic 3.4km
Kedron State High School Secondary 7-12 Government 3.5km
Mount Alvernia College Secondary 7-12 Catholic 4.1km
St Joseph's Nudgee College Combined 5-12 Catholic 4.2km
St Margaret's Anglican Girls School Combined Prep-12 Independent 4.2km
Padua College Combined 5-12 Catholic 4.4km
Craigslea State High School Secondary 7-12 Government 5.4km
Mastery Schools Australia - Taigum Secondary Temporary Facility Secondary Independent 5.4km
Jabiru Community College Secondary 10-12 Independent 5.7km
Aspley State High School Secondary 7-12 Government 6.1km

Nearest schools, measured in a straight line from the property. Provided as a guide only; check catchment and enrolment eligibility with the school. School data © ACARA, licensed under CC BY 4.0.

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