S&A were existing clients of ours, looking for an investment property to hold, with good rental return, and scope to develop the site in future (5-10 year timeline). The budget for the project was $1m.
The property we purchased was a generous 1064m2 of Urban zoned land on a corner block. What a cracker! Being urban zoned and corner block, this meant there were several options available including subdivision, town houses or units. The house was original in parts but very tidy and well looked after by the existing tenants who wanted to stay on.
- Estimated Price: $870,000 – $900,000
- Purchase Price: $890,000
- Estimated Rental: $450pw
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