3x1 IP in Como

Discussion in 'Caveat Emptor (Buyer Beware)' started by Carrot01, 29th Mar, 2015.

  1. Carrot01

    Carrot01 mmmmm ham

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    Im thinking of selling my 3x1 IP in Como - 5kms from the city 5min walk to canning bridge station and less to bus routes to the city & curtin uni.

    its a great location, but the price reflects this.

    http://www.gumtree.com.au/s-ad/sout...omo-450m2-block-excellent-location/1074173145

    no strata title fees or common property - even the rates are very reasonable.

    its a safe quiet area, my own place of residence is only a few hundred meters away & we love living here.

    the block is worth $600k - much better buying something like this than a townhouse/unit/duplex - so much more scope for the future land use.

    A battle-axe block of land across the road (same size not including the driveway) just sold for 600k or so & this block has 14.5m frontage - which is a nice size for this area. I've been watching land prices/locations in como for years & land is very sought after here.
    This property has a lot of potential or you can just live in it as it is or do some small reno work if wanted.

    I believe the block can be subdivided as well, although this was never my future intention with the place.

    if i do sell it I'm sure i will regret it in the future..
     
    Last edited: 29th Mar, 2015
  2. thatbum

    thatbum law talking guy

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    A little bit off topic, but you haven't mentioned whether your property is green title, survey strata or whatever it is.
     
  3. Jamie_

    Jamie_ #1 Procrastinator

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    Curious to this as well.
    If it's 10 Edgecumbe Street, Como then it looks like the block has already been subdivided? there's 10 & 10A.. if the block is 450sqm (as per your gumtree ad) then no it can't be.
     
  4. Carrot01

    Carrot01 mmmmm ham

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    i was told by the council its r20/r40 i think - i can check and it could be subdivided into 2 225m lots - i never took any interest in this though so i could be wrong.


    yes its number 10 - the street front block

    cheers
     
  5. Carrot01

    Carrot01 mmmmm ham

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    its a survey strata block, no common land or strata fees - its practically green title is how i understand it.

    $655k obo will get it before i find another tenant in 2 weeks
     
  6. INVSTOR

    INVSTOR O+

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    How much does it rent for?
     
  7. Carrot01

    Carrot01 mmmmm ham

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    $440 a week, current tenants been there for 3 years, but moving closer to work & renting thru a friend of theirs.

    i work fifo now & i just cant be bothered with it all, so i'm considering selling.

    once i get new tenants in a few weeks i will probably keep it.
     
  8. Carrot01

    Carrot01 mmmmm ham

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    does anyone know much about whats propsed for the 'Canning bridge precinct'?

    i used to get info from the city of south perth/city of melvile because this property is in that zone, but it seemed a bit low on detail.

    it was mostly about retail/residential development around the train station area, but maybe its just a pipe dream?
     
  9. Jamie_

    Jamie_ #1 Procrastinator

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  10. Carrot01

    Carrot01 mmmmm ham

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    yep, i agree - i actually supplied them :)

    i signed the listing contract & wanted it listed the same day - she did what i wanted & got the listing up before the easter break.

    it was better than no pics at all, anyway the house is being sold for 50k above block value (at the most).

    once the tenants move out next week & if i need to i will get better photos up, thanks for your input though, cheers
     
  11. sanj

    sanj Member

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    I disagree that it's better than no pics at all, personally I think you're shooting yourself in the foot by not waiting a few days and putting better photos up.
     
  12. pinkboy

    pinkboy SS Lookerafterer

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    Lawn not mowed, leaves on the step.

    Surely you could have supplied photos that were a little more tactful than that?

    Selling is 100% presentation.

    Fail.


    pinkboy
     
  13. Carrot01

    Carrot01 mmmmm ham

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    im not that fussed if it doesnt sell tbh, but we have 2 groups that want to look at it on sunday allready.

    the location is the key with this one.
     
  14. INVSTOR

    INVSTOR O+

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    So what is the big deal about Easter? I have a property in Perth on the market already. Home open tomorrow - I guess it will be interesting to see if more buyers around. I have a property in Brisbane I'm considering listing. Agent was very keen to have it up and running before Easter. I didn't want to rush in but maybe I should be???
     
  15. Carrot01

    Carrot01 mmmmm ham

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    totally up to you, I wanted it up asap because there is nothing else around in this area that compares & i didnt want to miss out on any buyers - as remote a chance as that may be.

    anyway its worth a shot.
     
  16. Jamie_

    Jamie_ #1 Procrastinator

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    What is the big deal? chances are with most of the population aren't working over the next 4 days so if they have been thinking about looking for a house then they will now that they have some time off.
     
  17. sanj

    sanj Member

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    You either want to sell or you don't. If you are selling then do a good job doing so, otherwise you're throwing good money in the bin.

    Im sure you could sell it with rubbish photos but will you be maximizing your sale Price? If not then why not?
     
  18. Carrot01

    Carrot01 mmmmm ham

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    lol, dude just chill.
     
  19. sanj

    sanj Member

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    I'm completely chilled, just trying to help but clearly that isn't wanted. Will leave you to it.
     
  20. Carrot01

    Carrot01 mmmmm ham

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    yep dont need your help
    cheers