Property Location: Eastern Suburbs
Our repeat clients had a successful formula with renovating neglected character apartments in prime locations, and renting out to executive tenants.
Of the 28 properties we shortlisted, 11 were either off market or pre-market. After letting a few properties sell to other buyers that we judged were overpriced, we eventually located an ideal property that represented exceptional value.
The north facing and comfortable Art Deco apartment boasted a leafy outlook, well-presented interiors offering light, space and tons of scope to capitalise on the superbly convenient address. The location boasted walking distance to shopping, and 3 modes of transport to the city, train, bus and ferry.
We immediately commenced negotiations, to secure for our client and minimise the risk of extra competition. Our clients were delighted with the results for their investment property.
Eight weeks later, the property was completed and rented out to long term tenants for a great return.
Works included:
Purchase price – $995,000
Renovation cost – $37,000
Market value after renovation – $1,100,000 to $1,200,000
Rental return before renovation – $700 per week
Rental return after renovation – $845 per week
Address: Suite 1512/83 Spring Street Bondi Junction 2022
Postal Address: PO Box 2192 Bondi Junction NSW, 1355
Telephone: 1300 132 970
E-mail: info@searchfindinvest.com.au
