4 bedrooms for the price of 3
Type of Property: House
Reason of Purchase: Investment4 1 0
This entry level renovator was purchased for a client looking to pick up a solid investment opportunity but wanted to amplify their returns and increase the properties performance.
This Solid Brick home was purchased as a 3 bed 1 bath but Zoran Solano our Senior Buyers Agent and Property Strategist identified the opportunity to convert a section of living area into a 4th bedroom without compromising on living space. The property was purchased for around the mid $300K and post settlement the client engaged Hot Property to assist in the renovation of the home, spending around forty odd thousand dollars post settlement.
The property now achieves around 5.2% Gross Rental Return in an area that has averaged approximately 5% Growth PA and is a solid performer for our client.