Whoever bought it will just demolish it and build 3-4 units in a line
Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Whoever bought it will just demolish it and build 3-4 units in a line
Anyone want to go shares into this one?
http://www.realestate.com.au/property-unitblock-sa-elizabeth+vale-107325716
$1.49m, 130k income
19x 1bdr s
http://www.realestate.com.au/property-unitblock-sa-elizabeth+vale-107325716
$1.49m, 130k income
19x 1bdr s
No way TMNT
They have asbestos roofs which would be expensive to remove or change.
The yield isnt that great. Can get that on regular buys there for which you can get regular finance.
Previous owner paid 780k in 2005
It'd make a great development site, but if thats what ya wanted it for it needs to be priced as land value, which it isnt.
Or if you wanted it as a cash cow, that'd attract the worst tenants. It's already fairly bad tenants that go to Elizabeth, these would contain the ones that couldnt get a $190 semi so have to settle for a $120 unit, which does not stress free make.
They have asbestos roofs which would be expensive to remove or change.
The yield isnt that great. Can get that on regular buys there for which you can get regular finance.
Previous owner paid 780k in 2005
It'd make a great development site, but if thats what ya wanted it for it needs to be priced as land value, which it isnt.
Or if you wanted it as a cash cow, that'd attract the worst tenants. It's already fairly bad tenants that go to Elizabeth, these would contain the ones that couldnt get a $190 semi so have to settle for a $120 unit, which does not stress free make.
Been for sale for aaaaaaaaaaaaaaaaages, if it was a good deal someone would have bought it already
Agreed
Effectively you would be providing shelter for 30 centrelink dependant tennants. You would get more than your fair share of bad eggs and those who are just out to make the landlords life hell.
Ahh good old Somerset! I knew I could rely on you
My views were similar except for the asbestos roof aspect
Managing 11 tenants who pay weekly is almost an entire job in itself
Bed sits of that quality would almost exclusively be used by needle junkies and the like, you'd need an onsite manager/direct control over it.
Yield isn't there and it's *well* above land value, I wouldn't offer 50% of what they are asking.
Hell no
The fact they have 130k income means they want to becompensated for it
If I really wanted a site like that, I'd simply buy vacant land for half the price
Or even less than a third of the asking price:
http://house.ksou.cn/p.php?q=Elizabeth+North&sta=sa&id=50615
IP purchased 2 months ago, put a desktop reval through, up 23% on purchase price.
A desktop reval.
IP purchased 2 months ago, put a desktop reval through, up 23% on purchase price.
it's unusual to see such a large increase if rpdata AVM. are changing the attribute such as including the floor area, update the number of garage etc in your remodel when running the AVM?
Or alternatively he may have just bought well?
http://m.realcommercial.com.au/propertydetails.ds?id=501208059&theme=mrca#home
Would anyone here buy this if they could afford to?
And what would it sell for 2m-2.5m?
Would anyone here buy this if they could afford to?
And what would it sell for 2m-2.5m?
Excluding land tax, not thanks.
