Type of Property: House

Reason of Purchase: Investment

3 Bathroom Icon1 1

The opportunity to purchase quality developable land within 10km of the Brisbane CBD, for under $600K is getting harder by the day, but when you have the team at Hot Property on your side it is possible.

This LMR (Low to Medium Density Residential) property offers our client a great land banking opportunity for future development, while providing a sound rental yield during the holding period. 

During negotiations Daniel Mumford was able to include early access allowing our client to undertake a cosmetic renovation PRIOR to settlement occurring. which meant that we could then reduce the down time post settlement dramatically for the client. 

Works conducted at this property included new bathroom, and Kitchen, Full internal and external repaint, new lighting and fans throughout, Fencing, and yard tidy up, which all assists the rental yield and rent ability.

FAST FACTS

Purchase Price:

$585,000

Block Size:

675m2

Proximity to CBD:

6.9km

Post Settlement Renovation:

~$40,000

Rental Return:

Mid $400’s Post renovation (high $300’s prior to renovation) thats increasing the rental yield from around 3.2-3.4% to high 3% which for a development site is pretty typical.

Development Opportunity: 

3 Large Townhouses or possible 4 Regular sized townhouses