Buy-Hold with Potential Subdivision 7%+ Gross Yield
BOOM...ANOTHER ONE....Purchase #77 by Easy Buyer's Agent. This purchase was for our local investor who was looking to accumulate and expand his portfolio. Purchase: $252,000. Property needed a bit of clean up and light cosmetic work, which, after the work is done, it can rent for $350/week+ conservatively. Domain High Confidence valuation was at $305,000. Read on.
Our client was a local investor who was looking to accumulate more properties into his portfolio.
This property has been under offer for couple of times which, both times the buyers fell through. It was around Christmas time when we saw this, we immediately asked our buyer to make a move right away. Being Christmas time, it meant buyer activity was low which would increase the chance of securing a property.
Long story short, our buyer got the property. It was sitting on a 700sqm land zoned R15/25, in a suburb with median price of $272,000 that has gone through 26.5% growth in the past 12 months. Once the property was cleaned up, it should fetch $350+/week in rent. Domain's High Confidence valuation was at $305,000.
Looking to buy property in WA? You know who to call. We have assisted local, eastern state and overseas Owner Occupiers and Investors. Consultation is free and let's just chat property. Until the next purchase. Peace.