Purpose of Purchase: Investment
Property Type: House
- Strong yield
- Ability to add value in the future
- Up and coming area/suburb
- Very close proximity to parkland and playground
- 4.5km drive from Newcastle CBD
- Close to local shops and Throsby Creek walking track
- Solar Panel System to reduce energy costs and insulation in roof
- Good size backyard with garden shed
- Large covered outdoor area
A Successful Investment:
This was the 3rd purchase we have assisted our client with as they continue to build on their property portfolio. The focus was to secure a property that had a strong yield, in an area that is gentrifying and with future add value potential.
The property had been on the market for quite some time as the vendor was seeking a sale price in excess of 520K. We tracked the property for a lengthy period as we saw great value at sub 480K. In the end we managed to secure the property for 471K which was below our market value assessment. This was a classic case of capitalizing on a stale campaign and our client has managed to secure themselves an excellent investment grade property in an up and coming inner city suburb of Newcastle.