Purpose of Purchase: Investment
Property Type: House
Pure focus was capital growth however if possible with good cashflow, that would be ideal.
- Walking distance to shops & transport
- Renovated home with good internal flow
- Good sized block of land (>600sqm)
- Character style dwelling
- North facing front verandah with limited suburban views
A Successful Investment:
The property was going to auction in a suburb that we knew Auctions were not highly favoured in. For this reason we suggested to the client to not make an offer prior to auction but instead attend the auction as there was potential to get a good deal.
We secured the property at auction for $745,000 which was $25,000 below our limit so the client is extremely happy. The rental appraisal is $650pw which is a 4.5% gross rental yield which is a great outcome.
The client now has a renovated 4 bedroom, 2 bathroom house with two living areas, inground pool and big block of land. The property also has the ability to add value through minor cosmetic improvements in the years ahead.
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