M&L were interstate investors and previous clients of Property Zest, who were working on their third project with us!
Their next purchase was to be an entry level property for medium to long term hold, that would provide positive cash flow and capital growth potential. With this basic criteria in mind, we were on the hunt for a property in a high yielding suburb with some add value potential in the long run, but that was also in a state to be rented as is. Within the second week of their search, we were able to secure a property that ticked all those boxes, plus a bit more!
The property was a solid, low set 3 bedroom home in an outer North suburb of Brisbane, on a whopping 810m2 block. Not only was the house neat and tenantable in it’s current condition, and in an ideal location, but also zoned for low to medium density living, which provided the additional potential for development, a secondary dwelling or sub-division as possible future prospects. Being a long term investment, having the option to do so much more with this lot was a huge added bonus!
After undergoing a very basic freshen up, the property was leased in no time at all and is currently ticking away nicely.
- Listing Price: Offers Over $359,000
- Purchase Price: $350,000
- Estimated Rental before renovation: $310 – $330 p/w
- Current Rental: $330 p/w