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This is Prime


This is a prime opportunity. On offer is a 685m2 (approx) block zoned LMR2/3 with no character controls but a character home that should renovate up a treat (we have not inspected internally) if you chose to go down this route. It also sits on 2 lots so offers the chance to demolish and build two new houses, subject to access constraints and growth to improve the numbers for this option. Our preferred development option, however, is for 4 townhouses, making the most of a likely opportunity to build to three storeys over half of the site. This option is showing just over 24% equity gain on a purchase of $1m.

Sit and Forget


The rental market has improved recently thanks to a combination of factors. This along with low interest rates makes this property very appealing at 5.9% (approx) gross rent return, however, return alone isn’t enough for us, we always want more! Also attractive here is it is in better condition than most similar product, sits on over 700m2 of LMR land, has a few development options (noting they don’t stack for immediate development) and is in an excellent location, being a  short walk to busway and only 4.4km as the crow flies from the heart of the CBD. This property consists of a Queenslander converted to four flats and returning $65k pa approx. Buyers at or just over $1.1m to simply buy, sit and forget.

A Removal You’ll Be Happy to Have


This house is post-war, which is extremely rare for the suburb and makes it very attractive as a result. There is an option to immediately remove the dwelling to redevelop the site for one or two dwellings, or given the super inner-city location that has experienced excellent and consistent long term growth, a second option exists to hold the property knowing you have flexible options down the track. The property is a large house in liveable condition, setup as dual occupancy, which has the potential to bring you above average rental income if you do choose to hold. If you choose to develop, one big house or two houses (on a simplified two lot body corporate) are the likely outcomes, the latter showing around 18-20% equity gain. Whilst not brilliant, it is more than acceptable when you consider the location and potential hold strategies. Buyers around $1.4m.

Reach for the Stars


We’re talking up some big end values here as we reach for the stars, but this approved development site is in an enviable location and well suited to the downsizer target market. On offer is an 809m2 site, approved to retain the existing house and convert it to two townhouses, and then build a basement car park, two units and three terrace style dwellings behind. All up 7 dwellings that should be at or over $900k each. Our numbers are indicating a 24.6% equity gain on a purchase of $1.96m.

 

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