Here's an opportunity to do something about affordable housing, and it's a great investment opportunity too.

Twenty newly built, tenanted units in Kingsford are for sale in one line. The units operate under the NSW Government’s National Rental Affordability Scheme, providing the new owners with a secure income and tax benefits.

Jones Lang LaSalle, who is marketing the property, expect strong interest.

JLL’s Manager, Metropolitan Sales and Investments – NSW, Dylan McEvoy said, “This will be one of the first times we have seen this type of asset offered to the market. 

"Demand for affordable housing in Sydney ensures properties such as this will remain securely leased.

"Another benefit for the purchaser is the opportunity to participate in the National Rental Affordability Scheme, which for this property, will see over 40 per cent of the net income being tax free," said McEvoy.

McEvoy said the property to likely to appeal to high-net worth individuals, self-managed super funds, and small investment funds.

The NRAS was established to increase the supply of affordable rental homes by providing financial incentives for owners.

JLL’s Director, Metropolitan Sales and Investments – NSW, David Mathews said, “This property is likely to generate a yield on par with many commercial properties," adding the apartments could be sold individually in future.

The property will go to auction on 22 November 2016. 

See also:

Lucy Turnbull's plan to tackle housing affordability

Real action needed to address housing affordability

Smashed avocado on toast is the reason I can’t afford a home