Can anyone tell me why this is so cheap?

This land is worth a fair chunk of that. I can't understand why this is so cheap.

Anyone got any thoughts? I'm interested in what other think I may be missing.
 
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It passed in at auction, from what the agent said.
The house is approved but carports and granny have not been yet.

I'm confused as to why it didn't sell, think something smells fishy.
 
flimsy

from pictures the older house is on stilts and dont see any brick used. 200m from the beach could be easily washed away or flooded by rising tide that happens once a year?
 
from pictures the older house is on stilts and dont see any brick used. 200m from the beach could be easily washed away or flooded by rising tide that happens once a year?

It's been there for 70 years already. Im fairly sure Wynnum doesn't have houses floating away once a year at king tide? I assume you don't know much about Wynnum, queenslanders or houses on "stilts"? :eek::D

There is something wrong and my guess it has to do with approvals. Maybe the houses can never be split which may mean only one lease (legally) and not two. That is two houses for the price of one and would not have been passed in or even still be on the market if it didn't have a major problem (perhaps something not able to be fixed) in my opinion.
 
It's been there for 70 years already. Im fairly sure Wynnum doesn't have houses floating away once a year at king tide? I assume you don't know much about Wynnum, queenslanders or houses on "stilts"? :eek::D

There is something wrong and my guess it has to do with approvals. Maybe the houses can never be split which may mean only one lease (legally) and not two. That is two houses for the price of one and would not have been passed in or even still be on the market if it didn't have a major problem (perhaps something not able to be fixed) in my

Sounds like you are right Wylie, the approvals for the granny flat are pending a few mods, ( I have no idea how hard or strict the approval process is up here).
The Brisbane City Council Flood Maps shows the block may possibly be affected, but judging by the fact it is on the bay this be this cold oly be on king tides it wouldn't flood down there. It is on the map and is the last block in the affected in the shaded area.
I would have thought the front house and block alone would be worth that. The granny flat is a bonus if that is what you are into to.
Feel likes I might be missing something because I would have thought it was too good a deal to be sitting there that. Lose to the water.
 
If there any redevelopment potential for this site ? is this on the flood zone, or heritage listed ? if there is any easement underneath prevent further development?


If I have this amount of budget I will look more into it.
 
I'd recommend calling the agent and ask them how they've come to that price point. It might just be a "marketing price" or like others have suggested there might be something more sinister.
 
If there any redevelopment potential for this site ? is this on the flood zone, or heritage listed ? if there is any easement underneath prevent further development?


If I have this amount of budget I will look more into it.

The flood maps show it is just in the zone, but it is on the bay not the river, so I figure that is why it is on piers, to give it clearance from king tides etc. I suppose it worth ringing the council
 
Some DA Talk Is Just That. If U Dont Have A DA U Dont Have One Given It Has Potentil U Will Need To Do A feasibly Including Council Fes Etc And The
cost Of Your Finance Some Resubs R Not Viable Others R Its All About Numbers If U Can Buybelow Market Do So Wynnum typically Has A Strong price Base Never seen Anything Sell Ther9e Below market But Sounds Like U N
May Have hit The Jackpot Good Luck Just My View Thx
 
Some DA Talk Is Just That. If U Dont Have A DA U Dont Have One Given It Has Potentil U Will Need To Do A feasibly Including Council Fes Etc And The
cost Of Your Finance Some Resubs R Not Viable Others R Its All About Numbers If U Can Buybelow Market Do So Wynnum typically Has A Strong price Base Never seen Anything Sell Ther9e Below market But Sounds Like U N
May Have hit The Jackpot Good Luck Just My View Thx

Can I give you $5 towards a new keyboard?
 
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