Similar 2 bedroom apartments in this recently renovated complex have just sold for almost $50,000 more than the asking price.

Why?

The two available apartments are part of a scheme that requires an investor owner to let the property as "Low Cost Housing". Under the scheme introduced by the State Government, an investor is required to let the property at 20% below the market rent as determined by a registered valuer for a period of four years, and then it can be let at market price, and also any restrictive covenant will have lapsed.

Benefit?

We have a registered rental valuation for $680 per week for full market rent, which would mean that the property must be let at no more than $545 pw. Over a period of 4 years, that's some $28,000 reduction in income, but you have saved $22,000 on the apartment purchase based on other sales within the complex.

So if you're an investor looking to acquire a prime Balmain apartment, we would welcome your further enquiry of these great investment opportunities.