Messy? No, it's just 'lived in'
It scores points for the punching bag out the back, but loses for not having a Southern Cross (or Confederate) flag on a bedroom wall. Still it doesn't make http://theworstofperth.com/
Carlisle, Western Australia
- Thread starter perthguy
- Start date
Messy? No, it's just 'lived in'
It scores points for the punching bag out the back, but loses for not having a Southern Cross (or Confederate) flag on a bedroom wall. Still it doesn't make http://theworstofperth.com/
Ugh! Better buying would have been this duplex pair that I was offered in Yokine - but I didn't want to pay that much. Still better value
http://www.realestate.com.au/property-duplex+semi+detached-wa-yokine-115969731
and
http://www.realestate.com.au/property-duplex+semi+detached-wa-yokine-115956803
http://www.realestate.com.au/property-duplex+semi+detached-wa-yokine-115969731
and
http://www.realestate.com.au/property-duplex+semi+detached-wa-yokine-115956803
Oh yeah! I remember those. I wonder if the same person picked up both. That was a pretty sweet deal (but outside of my budget too).
Nice location but the price wasn't good enough to be close to 'wholesale' which is what you want for development.
Hi Myf
I saw these, my thoughts were over $1M for 812 sqm block in Yokine was too expensive, where I believe you should be paying approx $900-$1M for around 900 sqm. The larger blocks are now harder to find.
The saving grace I guess was if you purchased both you could possibly rent each out for $450-500 pw, certainly help with holding costs for those who perhaps were considering land banking.
Cheers
MTR
WTH? It's back. On the market, off the market, on the market. My head is spinning!!!
http://reiwa.com.au/Buy/Pages/More-...1&listingid=10433804&listingno=3435632&puid=0
http://reiwa.com.au/Buy/Pages/More-...1&listingid=10433804&listingno=3435632&puid=0
lol, unrealistic vendor thinking their property is worth more than it is even in a hot market. Why would you buy one of them for $449K when you can get something brand new in Belmont, Cloverdale, and if you wait a bit, probably much less as the developments come on the market and turn the areas into a ghetto
I'm really good at identifying properties I want to live in
Lots of investors looking for such sites. But you can get one if you move fast, I mean check re.com daily and call the agent straightaway once you found a suitable property. Lots of FHBs are buying in these areas as well. But they don't buy houses needing lots of TLC.
apparently I can't as I'm a newbie
too many people crammed into cheap housing in the one area makes it a ghetto, an area can't gentrify if the plebs can afford to live there.
too many people crammed into cheap housing in the one area makes it a ghetto, an area can't gentrify if the plebs can afford to live there.
is there any need for the first line?
cheap housing? have you seen the prices and the recent buyers demographic in the area? you are way off the mark if you think carlisle in 2014 is going to be a ghetto
The market has told the vendor it is not worth that much. It has been on the market for ages and the highest offer I know of is $430,000. I just think it is interesting it was on the market, taken off, marketed as a duplex pair, then put back on.
I know what you are saying about City of Belmont overdevelopment though. I won't wait for the market to crash to pick up some cheap peice of junk. I want a quality property... like a nice unrenovated dump in Carlisle... for the right price of course!
another devvie in Cloverdale
http://www.realestate.com.au/property-house-wa-cloverdale-116162127
$779
and they're selling too.
http://www.realestate.com.au/property-house-wa-cloverdale-116162127
$779
and they're selling too.
I live in the area and invest in the area you are talking about and IMO you are spot on with your assessment.
Have a look at Balga, Westminster and Nollamara. Land was cheap, with developer friendly zonings and good access to the city. Developers have rushed in, bought up land and built triplexes which are now selling. As more stock is added to these markets, the price is softening or falling.
It appears the same thing is happening in City of Belmont. Land was cheap and then rezoned, close to the city, bought up by developers, many OTP apartments sold and the market has softend. It remains to be seen if price will be affected but that this stage it is looking like it will.
I have a devvie site in this area but will not be developing as the market is too volatile. I am going to wait for 5 years or more to see what happens in this area and decide what to build at the time.
another devvie in Cloverdale
http://www.realestate.com.au/property-house-wa-cloverdale-116162127
$779
and they're selling too.
"Totally Amazing"!!! I'll race you there.
But really, how outrageous is that price???
Hey, I'm posting from my iPad at the RE office with a wad of cash in my hand.
That one was only 20/40 as well, can't even slap up 10 boxes for bogans
That one was only 20/40 as well, can't even slap up 10 boxes for bogans
so one bedder apts in Cdale new are on for $350is, 2 bedders $420ish
You buy a devvie block for $799K - say you get it less and that includes your SD and legals
here's a newbie feasibility:
$800K cost
plus holding costs???
$15K to pull down the house
$35K for subdividing
$200K each to build 4 x 4x2 units = $800K
$over a million spent (would be more)
Sell: $420,000 each x 4 = $1680
less RE fees? unknown
CGains tax - unknown
GST
You buy a devvie block for $799K - say you get it less and that includes your SD and legals
here's a newbie feasibility:
$800K cost
plus holding costs???
$15K to pull down the house
$35K for subdividing
$200K each to build 4 x 4x2 units = $800K
$over a million spent (would be more)
Sell: $420,000 each x 4 = $1680
less RE fees? unknown
CGains tax - unknown
GST
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Prices vary in Belmont, Kewdale and Cloverdale for OTP apartments.
1x1 $325k
1x1 $349k
2x1 $349k
2x1 $385k
2x1 $425k
2x2 $409k
2x2 $429k
Selling... hmm... that is assuming anyone would want to buy them. Developers and agents in the area have told me that enquiries are drying up for OTP apartments.
You would need to factor in GST as a selling cost.
4 x 4x2 units on 800m2? Is this a double storey development you are talking about?
I think she meant four 2x2 units. That would be multiple dwellings under the multi unit code. e.g. they are building eight two bedroom two bathroom homes on this block of 1,100 sqm
http://www.realestate.com.au/property-apartment-wa-belmont-114441195
