Under market value development site
Type of Property: House
Reason of Purchase: Investment
These clients engaged our service to assist them with the purchase of their first Queensland investment property.
Although they already had an existing portfolio for a number of years they wanted to re-evaluate and look for an investment that will give them strong capital growth and set them up for the future.
We secured a fantastic property with future development potential, sitting on a 583m corner block only 6.7 km from the Brisbane CBD. The house itself is neat and tidy which will provide a rental yield before our clients undertakes a development.
The best part of this purchase was that not only did we secure a fantastic property, we also managed to secure it for under market value (around 5% based of comparable sales in the immediate area).
Purchase Price: $650,000
Block Size: 582 m2
Rental Return: $480 Per Week
Zoning: LMR possible potential for townhouses or Units.
Bed/Bath/Car: 3 / 1 / 1
Proximity to CBD: ~6.7km
Notes: Walk to local shopping centre