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Bowled Over


This could be an interesting opportunity, and there’s no doubting the quality location. The issue we have is contradictory land sales that is holding us back. On offer is a derelict house on two lots in a premium family home location, that achieves quality views. Whilst there are character overlays, we are supremely confident at achieving being able to bowl it over as the house in structurally unsound. The plan would be removal then sell each vacant lot (or build on them if you so choose). Understanding end values is difficult though, which two land sales supporting end values that make our numbers hum, and one land sale that is holding our numbers back. We’ve deliberately decided to ignore the agent’s land appraisal and go conservative, which, unfortunately has us falling short with our numbers. However, the market is hot and not everyone will take the conservative approach. Some can buy cash so there will be savings there. Others may look at this to build their own home on, which changes the numbers again. For these reasons we’ve decided to put it out there! And we only need a 3% increase on the end values we’ve settled on for this to work. Buyers at $2m+ should enquire.

Affordable


Whilst the numbers only just make the grade, this property is most definitely very affordable, even more so when you consider all of it’s positive attributes. Consider this: quiet street, super handy location, larger than average land size, liveable house (subject to minor maintenance), development potential and all this for around $800k. So what’s the catch? A leaking asbestos roof, some noise from a main road nearby, and a bit of slope to the rear. Even with these items taken into account, the seller should realistically believe that they could be able to achieve $900k (in fact this is what they paid for it), but alas it hasn’t panned out that way. The potential here is to owner occupy, minor upgrades and rent it to land bank, or a two lot subdivision for rooming accommodation. Buyers at $800k should call Justin on 0410511535.

Going Off


This property is going off-market (for now). It is a 650m2 lot (approx) with an 18m+ frontage, zoned LMR2/3 with no character overlays. It has some minor flooding but it is gently sloping and we have the ability to fill above this. Further, the price would be a lot higher if it wasn’t affectged by water. It is in a quiet street and backing onto parkland. The opportunity is for a 2 lot subdivision for rooming houses, with the location bang on perfect for this. Our numbers indicate an 18.9% equity gain adn 9.2% gross rent return for a 2 rooming house development at a purchase price of $980k. Interested buyers should call Justin on 0410511535. 

Captured


Here’s your opportunity to buy a well located site to develop 4 townhouses that captures fabulous city views. The site has some qualities and quirks about it: it is a QLDer operating as three flats but well under rented. Despite being in a suburb with plenty of character there are no character overlays so we can demolish. It is a corner site but also not a corner site. And finally it is a short walk to busway and surrounded by non-houses so we can develop to 3 storeys as of right. The result of all that is we can develop the 740m2 (approx) block into 4 townhouses, all with city views.  Our numbers suggest a tick under 30% equity gain is achievable. Buyers at $1.75m should call Justin on 0410511535.  

 

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