Investment Properties
QLD- Brisbane Project
This classic Queenslander home is situated on a very gently sloping 8711m2 sub-dividable corner block.
There are tenants in place right now paying $200 per week rent.
The side of the property which fronts one street is where it would be easy to cut off several blocks. The street is sealed and curbed - ready to go!
This property is on 2 lots with a combination of land totalling 8711sqm. I have spoken to council and they have stated that there was no flags raised when enquiring about subdivision of this property. The minimum lot size is 400sqs with a 10 m frontage. The current house on the block could be sold off or renovated and keep on about 1300sqm of land.
Ideally located on the golf course you would be able to get 3-4 lots with frontage to this. On my count you would end up with about 14-15 extra blocks if you keep the house on the land.
After renovation of the house (at a cost of $30,000) the sale price would be $300,000 and the blocks would range in sale price from $150,000-$200,000, so use a flat figure of $175,000 per block.
 Growth
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| Purchase Price: | $1,038,000 |
|---|---|
| Gross Weekly Rental: | $200 |
| House Resale: | $300,000 |
| Individual land block sale: | $175,000 x 15 |
| Population: | Brisbane area |
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