BUY ONE GET TWO...Purchase #26 and #27 by Easy Buyer's Agent for a client living in Sydney. June can very well be our biggest month to date. Asking price: FROM $337,000. Purchase price: $310,000. This is a 6x3 property consisting of 4x2 and 2x1 granny flat whereby the 4x2 can rent for at least $300/week, and 2x1 for $200/week. At a minimum of $500/week, this means 8.39% gross yield positive gearing. Read on.
Our client resides in Sydney and is looking to invest in WA market. They are looking for property not too far from water/ocean, below market price, positive gearing with potential value add.
We have been eyeing this particular property since months ago. It is not too far from the ocean. Who knew this happened to be an excellent fit for our client whom we just signed few days ago. The property is a 6x3: 4x2 for the main house with 2x1 granny-flat. Land size is 774sqm.
What is really interesting with this setup is, the potential rental yield is amazing. We have checked with our Property Manager, the main house can fetch $300/week and the 2x1 granny flat $200/week minimum. On $500/week (minimum) at asking price of FROM $337,000, it is already yielding 7.7%. However, we did not stop there. We negotiated further down to $310,000. At this price, the gross yield goes up to 8.39% positive gearing.
Furthermore, property was already tenanted to family/friends of the owner. It is immaculate, ready-to-move-in with no further works required. Standard 4x2 in the suburb has sold for at least $305k. And yet, this property has extra features such as evaporative air-con, swimming pool and that granny-flat.
To build a 2x1 granny flat, it would have cost you at least $110-$140k. Then the swimming pool, $30-$50k. We bought this property at a standard generic 4x2 price, meaning, we get that all these extra features for free. Talking about below market purchase, this property definitely ticks the box.
To find a property with granny-flat might be a common occurence. However, a property with a large granny-flat that has separate side access, 2x1 setup with air-con is indeed rare.
Easy Buyer's Agent is equipped with more than 20 strategies to profit through property market. We don't crawl properties like a general buyer would be. We analyse, we dig, we try to apply multiple strategies to bring the best value out of each property. We find rare and unique deals.
Are you in the market of buying property in the WA market? You know who to call. Our buyer's agency service is one of the best in the state. Let's just chat property.
Until the next purchase.