G'day Matt here - son of Les (one of the Mods). It's certainly been a while since I've posted, or even visited, here - just busy with current things, I guess - so my apologies, if I've posted in the wrong location, and I thank in advance the moderator who moves it to where it needs to be.
Anyway, the reason for the post... I'm currently under contract with this little gem and I'm considering the possibility of flipping it (first-time flipper BTW). Given that even the most basic (though well presented) 3bdrm workers cottage on 400m2 in East Brisbane is selling today in the mid-high $500Ks, this one is a winner, and it's available today for ~$565K but, yes, it does need work!!
I would not be offering this, except for being pretty much "jointly and severally stuffed" by the Banks. The potential income is huge (depending on your purpose for it). I have plans to provide a >15% return from it (eminently achievable based on my experience when renting to students). After fighting for several weeks now on this, it seems likely that I'm not going to win - but YOU can...
Circa pre-1900 Queenslander former Mansion with Maids' Cottage (underneath), converted into three registered flats in 1952. Lot: 3; Plan: RP91176; Parish: South Brisbane.
In need of considerable TLC however, perched on 607m2 LMR (currently multi-unit dwelling - flats), the possibilities are endless.
But pls don't allow me to limit your imagination with the following suggestions;
With 7+ bedrooms, 3 bathrooms, 3 kitchens and over 290m2 of current internal living space this property also boasts;
I've included a couple of pics to moisten one's pallet...
Building and Pest Inspection Report and some RPData info available upon request. However, pls do your own due diligence. For those who are already familiar with East Brisbane (4169), I guess I'll be hearing from you soon...
I welcome any questions via replies on the forum, but as I'll be on-line only periodically over the weekend I'd suggest any urgent questions be asked via my mobile.
Expressions of interest only this weekend pls...
Regards,
Matt B-)
0411 505-001
0431 587-958
* - these are suggestions only, made without any understanding of or approval from the relevant authorities, and as such may be subject to the respective laws, grants and diligence.
Anyway, the reason for the post... I'm currently under contract with this little gem and I'm considering the possibility of flipping it (first-time flipper BTW). Given that even the most basic (though well presented) 3bdrm workers cottage on 400m2 in East Brisbane is selling today in the mid-high $500Ks, this one is a winner, and it's available today for ~$565K but, yes, it does need work!!
I would not be offering this, except for being pretty much "jointly and severally stuffed" by the Banks. The potential income is huge (depending on your purpose for it). I have plans to provide a >15% return from it (eminently achievable based on my experience when renting to students). After fighting for several weeks now on this, it seems likely that I'm not going to win - but YOU can...
Circa pre-1900 Queenslander former Mansion with Maids' Cottage (underneath), converted into three registered flats in 1952. Lot: 3; Plan: RP91176; Parish: South Brisbane.
In need of considerable TLC however, perched on 607m2 LMR (currently multi-unit dwelling - flats), the possibilities are endless.
But pls don't allow me to limit your imagination with the following suggestions;
- Rent as flats (in existing configuration - est rtn ~$1,060/wk)
- Add more flats (under)*
- Add townhouses (at the back)*
- Rent to the still strong, local o/seas student market* (in existing configuration or convert to large boarding house* or back-packers*)
- Convert back to the Grand Old Mansion she once was, highlighting her existing features; such as 3 fire places, 4 bay windows, pressed metal & plaster horse-hair ceilings, etc.
- Move it off the land (I doubt you could bring yourself to flatten it) and build whatever suits*
With 7+ bedrooms, 3 bathrooms, 3 kitchens and over 290m2 of current internal living space this property also boasts;
- Story Bridge, City & River glimpses from front room (at current elevation).
- 1 min walk from bus stops (4 routes).
- 4-min, 10-min & 12-min walks from Supermarkets, Post Office, restaurants, bottle shops, deli, etc (3 urban shopping precincts).
- 10-min & 15-min walks from Cross-River Ferry (to New Farm) and City Cat (to City / Griffith Gardens Point / UQ) respectively.
- 10-min & 15-min walks from 'Churchie' (Private Boys College) and Shafston/UNE respectively.
- 1km from NSBT (North-South Bypass Tunnel) entry/exit - due for completion 2010.
- 2kms from Story Bridge (connecting to Fortitude Valley and Brisbane CBD).
I've included a couple of pics to moisten one's pallet...
Building and Pest Inspection Report and some RPData info available upon request. However, pls do your own due diligence. For those who are already familiar with East Brisbane (4169), I guess I'll be hearing from you soon...
I welcome any questions via replies on the forum, but as I'll be on-line only periodically over the weekend I'd suggest any urgent questions be asked via my mobile.
Expressions of interest only this weekend pls...
Regards,
Matt B-)
0411 505-001
0431 587-958
* - these are suggestions only, made without any understanding of or approval from the relevant authorities, and as such may be subject to the respective laws, grants and diligence.
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