Investment Properties
NSW- Subdivision and Renovation Potential
What an opportunity! Three titles, one "c" zoning - which allows for subdivision, thirteen acres (5.2ha), four bedroom home, double Colorbond shed, machinery shed and stables.
The house is currently rented for $150 per week and sits on Lot 125, which is three acres (1.2ha). The other two lots are 7 acres (2.8ha) and 3 acres (1.2ha) in size.
The house is currently on 3acres and while rented now requires renovation. The house needs kitchen, bathroom, new carpets or lino and an internal paint. A carport would also add value. The idea would be to renovate the house and this on 3 acres would resale for approximately the $210,000. We estimate that you would need to spend $40,000.
The 3 acres on its own with the shed and stables would sell for around $75,000 or you could combine with the 7 acres and subdivide down further. The council has advised me that you can do 1 hectare lots with no services or with add services and you can do acre lots. A hectare lot would sell for $60,000 and acre lots not a lot less at $50,000 ( this is to sell prices). So with the 10 acres you could get approximately 4, 1 hectare lots and approximately 9 acre lots.
Council have advised that you can do a “Pre DA” this involves you just putting in some rough sketches on your own without a surveyor and they will advise you if the development is possible and what the costs will be, prior to submitting a proper DA application.
 Development
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| Council Rates: | $1,500 pa approx |
|---|---|
| Gross Weekly Rental: | $150pw in current condition |
| Purchase Price: | $210,000 |
| House Resale: | $210,000 after decent reno |
| Management Fees : | 8.8% |
| Population: | 5,700 |
| Hectare lot resale: | $60,000 |
| Acre lot resale: | $50,000 |
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