Great Seaford Investment. Large Corner Block

[younginvestor]

I am buying into a business and because this is the only property I share with my sister, I need to offload it.

Its approx 780m2 corner block in seaford. I have the same teneants since day one and they're a lovely couple.

http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=103598017&f=10&p=10&t=res&ty=&fmt=&header=&c=57573501&s=vic&snf=rbs&tm=1164618706

Regards,
Costa
costagavras@optusnet.com.au

[Les]

G'day younginvestor,
I am buying into a business and because this is the only property I share with my sister, I need to offload it.
Umm !! What should we deduce from that comment, YI? Is your sister also agreeing to the sale?

Caveat Emptor Moderator

[younginvestor]

Hi Les,

Good question! hehe

She is 21 and has just finished uni and wants to travel the world for a bit. So we both have our reasons.

Costa

[alexlee]

Is your sister aware of just what she's giving up by selling? $250k of gains in 10 years, $750k in gains in 20 years, not to metion all the OTHER properties she could buy with the equity......
Alex

[The Y-man]

Hi Costa,

Cna you provide:
1. current rent
2. lease conditions (monthly, 6 month, 12 month etc)


Cheers,

The Y-man

[younginvestor]

Hi everyone,

Thanks for all the private messages...Sorry I don’t have internet access at work, so hence the late replies.

To answer most questions :

Currently it is rented $185 a week, since we bought it almost 4 years ago; we increased rent by $5 a week once. Tenants are a retired couple who treat it as their home and was happy with the peace of mind for a lower rental return. Current market appraisal was $210 a week. There is no lease agreement, we just continued on after the first lease lapsed with no property manager (haven’t needed one).

I'm not exactly what it can be sub divided into, best to ask the local council.

Both my sister and I have other properties, but it gets difficult sharing a property when we are going in different directions and I no longer live at home with my parents and her. I appreciate your post alexlee.

Thanks
Costa
costagavras@optusnet.com.au

[Rolf Schaefer]

Costa,
what size is the block?

[chrispy]

Rolf

In first post:


Its approx 780m2 corner block in seaford.

Chris

[Rolf Schaefer]

Thanks Chris,
must use my reading glasses more often.

;););)

[younginvestor]

Hi Rolf,

Land size is approx 780m2, corner block on seaford road, I do not know the dimesions, I'm still to organise my section 32.

[ozi]

Hi younginvestor,

Go here:

http://services.land.vic.gov.au/maps/interactive.jsp

Search for the property address then using the map, you can quite accurately work out the dimensions of the block. Use the Zoom function to get up and close, then using the ruler measure it up. Great little tool!

Cheers,
Ozi

[toony]

Are you desperate to sell?

Only joking. Tibor Fritz eh. He has been around for years. At least 20. I recall as a kid he used to sell mt fathers properties when he completed building them. I dont think he ever achieved the prices my dad wanted. But then again no-one really did.

Good luck with it. I have not bought in Seaford, but still its near the beach so it has good long term potential.