Investment Properties
Vic- Renovation
Reap the rewards with this small block of three apartments with security entry. All have two bedrooms with BIR's, hallway, separate kitchen with dining area, separate living room with balcony, bathroom with laundry facilities, separate study/3rd bedroom or formal dining room.
All apartments are currently leased on a month to month basis, and would make the perfect investment or renovating development.
These units are already currently strata titled and are just in need of renovation. The agent has advised that he could push for a long settlement to get a renovation completed. The property next door has been renovated and these units are all 2 bedroom without study/3rd bedrooms and they sold for $545K, $545K and $560,000. With this extra room you would be pushing the high $500,000;s, low $600,000’s.
If you were to get an impression drawing done of the completed renovation then this agent believes he could sell them off the plan.
 Growth
 Development
|
|
| Purchase Price: | $1,350,000 |
|---|---|
| Gross Weekly Rental: | $810 pw market rent $990pw |
| Management Fees : | 6.6% |
| Gross Return: | 3% |
| Population: | Melbourne |
| Individual resale 2 bedrooms: | $585-$615,000 after classy reno |
Whilst care has been taken in the production of information and the information contained has been obtained from sources Australian House Hunters believes to be reliable, Australian House Hunters does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose and will accept no liability for any loss incurred in any way what so ever by any person who may rely on it.
