Renovator + Build a Duplex At The Back; Capital City Location
Property ID: 16287325
Purchase Price $475K
Estimated Renovation Costs $60K
Estimated Costs Associated With New Duplex $522K
Other Costs $85K
Estimated Value At Completion $1,380K
Estimated Equity Margin $238K
Estimated Rent $400 + $480 + $480 = $1,360 per week.
There are a couple of strategies that can make you money with this property. The first is to renovate the existing house, sub-divide the land at the back and to build a duplex pair (subject to Council approval). Refer to the estimated figures above.
Another option is to knock down the house and sub-divide into 3 lots (again subject to Council approval).
The house is in a quite street in a Capital City, with many facilities nearby.
There is a Bus Stop diagonally across the road plus a School and Childcare centre just around the corner. Up the road 400m are a number of restaurants and a park just beyond.
Within a few minutes drive there are a number of Schools and Childcare centres, a Train Station with direct access to the CBD and a Bunnings.
Just 1.4km away is a major Shopping Centre with almost 300 stores covering more than 76,000m2, anchored by Woolworths, Coles, Target and Big W. The centre has more than 4,000 carparks, Australia's 6 Largest Banks, Australia Post and many of the country's largest retail franchises.
Within 10 minutes drive there are 2 Private Hospitals, a Boat Harbour, Sporting Clubs, another major Shopping Centre and a University Campus.
For further details about this project call Matthew Barnes on 0430 979 900.