6.7% Gross Yield Renovated with Granny Flat
WHY BUY ONE when you can buy two. Purchase #53 an #54 by Easy Buyer's Agent. This is our second purchase for our Sydney buyer, a renovated 3x2 property with 2019-built 2x1 granny flat sitting on 675+sqm land with suburb vacancy rate of 0.4%. The 3x2 can be rented at $400/week and $280/week for the granny flat, giving it 6.7% gross yield. Read on.
Our Sydney client is looking for another investment property to add to their portfolio, and it needs to be close to the ocean with good yield and low maintenance. This is their 2nd purchase with us.
With the way market is going at the moment, it is getting tougher and tougher for investors to get good deals. With Owner Occupiers being the current active buyers in the market, they are the ones who are willing to pay for very high prices for a property. Because of this, if the Investor decides to go head-to-head with them, the return will soon diminish.
When we spotted this property, we were immediately interested. We quickly get in touch with the selling agent and we found out that there has been an offer that feel through. We knew straight away it was an opportune time to strike. The property itself was a 3x1 that has been fully renovated into a 3x2. The seller has spent a lot of money doing it. And on top of that, it had a 2019-built 2x1 granny flat with excellent finishing. Sitting in a suburb with 0.4% vacancy rate, we knew the combined rental income would give a good yield. It was located 5-minute drive away from the beach and positioned in a quiet cul-de-sac right in front of a park.
While the property has been on the market for some time, very rarely could people get access to it due to the tenants that were already in place. The seller was also still in the process of doing some minor fixes as a result of the building inspection that was ordered by the unsuccessful buyer. Long story short, we get our Buyer to get organised and strike immediately before the seller had time to actively market the property. The last thing you want was to have competitions. The agent revealed how she had received so many inquiries about the property...yep..we were not surprised, this property was good.
Looking to buy property in WA? You know who to call. It is a super tough market to get into unless you are prepared to pay top dollar. Let us help you take the emotion and stress out of you. We provide end-to-end property buying service to ensure you are isolated from the stress and the emotional roller coaster. Until the next purchase. Peace.