The Project
L&M were interstate investors looking for long term hold with capital gains being their main driver. They were on the hunt for a property in the Northern Suburbs of Brisbane, within 30km of the CBD and were open to the idea of minor cosmetic renovation in future to assist with the capital growth, but were also looking for something that was rentable as is. So this is exactly what we gave them!
The Property
The property was a low-set, well presented brick and tile home which had been well maintained but still had scope to add value through minor cosmetic renovation, which would aid in the long term capital growth they were looking for. The generous 659m2 block with 3 car accommodation, 4 decent sized bedrooms and 2 bathrooms all set on a spacious floorplan, were just a few of the features that made this a fantastic investment property.
The location was ideal – in an up and coming outer suburb of North Brisbane with generous yield, positioned in a quiet cul-de-sac and within walking distance to public transport and schools, being just minutes from the Bayside Waterfront was the icing on the cake!
With tenants secured and moved in within 7 days of settlement, this purchase proved to be an absolute winner!
The Numbers
- Listing Price: Offers between $420,000 – $440,000
- Purchase Price: $414,600
- Estimated Rental before renovation: $400 – $420 p/w
- Current Rental: $415 p/w