Chelsea Heights

Hi Everyone,
I am new to this forum and I was wondering if I could get anyone's opinion on Chelsea Heights.

I am thinking about buying in the Chelsea Heights area as an investment but I do not know too much about the local area, and would appreciate if people could tell me positives as well as negatives.

Does anyone know what Chelsea Heights used to be before there were houses?

Thanks
 
Hi Gabstar

Chelsea & Aspendale are good investments.

Chelsea Heights prices have picked up well

My friend bought a house in Chelsea Heights in 2004 for $ 275,000, Sold it for $489,000 not that long ago.

Also time is a greater healer if you have patience to acquire things and can hold on to your IP's. A good one may take 7 years, Average investment b/w 7-10 years and poor investment b/w 10-12. But you'll eventually get there....

Having said that " good 5 IP's is better than poor 15 IP's. go with your mindset with a bit of strategy.


I am not familiar with the area but i'm sure there are some really great experienced investors on this forum who will help you with this.
 
Does anyone know what Chelsea Heights used to be before there were houses?

Chelsea Heights is between the former rubbish tip (now Bicentennial Park) and the (existing) sewage works.

I think it was just farmland - you still see a few horses not far away.
 
Hi Gabstar

i forgot to welcome you to the forum. Just for your knowledge, it is very opinion based. you will get mixed opinions from various people. At the end of the day with due dillegence and your gut feel, you will need to establish


I am not too sure where SPiderman is getting this info from..

Can experienced investors provide links & details to Gabstar.

i got your email in terms of the prices. It's ok to share this on the forum.

$440K for a 4- Bedroom house on a 600 sq m land... currently leased

thoughts everyone
 
Hi Everyone,
I am new to this forum and I was wondering if I could get anyone's opinion on Chelsea Heights.

I am thinking about buying in the Chelsea Heights area as an investment but I do not know too much about the local area, and would appreciate if people could tell me positives as well as negatives.

Does anyone know what Chelsea Heights used to be before there were houses?

Thanks

Hi Gabstar

Welcome to the Forum

I don't know much about Chelsea Heights but I do know a bit about Chelsea.

Chelsea has gone ahead in leaps and bounds over the past five years and looks set to become The Next Big Thing!

The areas between the Mordialloc Creek and the Patterson River are unique, and now throw in East Link, and this has become a very special pocket indeed - and all within the Taxi Zone!

Go and eat fish and chips on the sand at Chelsea some time soon, watch the sun set over the bay, and ask yourself 'where on Earth would I rather be?'

Cheers
Kristine

Oh! Did I hear you say 'What about capital growth?'

How would $1,000 per week, plus rent, suit you?

That's what the house we bought in 2006 has done for us.

Ciao!
 
I am not too sure where SPiderman is getting this info from..

1. Refer to 1970 Melway 93 E12. Tip site was about 500m x 300m.

2. Refer to any recent Melway, Eastern Treatment Plant occupies most of map 98. When the wind blows...

On the north bank of the Patterson River are a couple of horse related uses eg a private race course and pony club. A bit further north are the Edithvale wetlands. This can result in more (and bigger) mosquitoes than seen elsewhere.

Having said that, there is nothing wrong with Chelsea Heights, though with inferior transport and beach access compared to the bayside suburbs it will always have lower value (but that's not to say it won't have good capital growth).
 
Chelsea has gone ahead in leaps and bounds over the past five years and looks set to become The Next Big Thing!

The areas between the Mordialloc Creek and the Patterson River are unique, and now throw in East Link, and this has become a very special pocket indeed - and all within the Taxi Zone!

Go and eat fish and chips on the sand at Chelsea some time soon, watch the sun set over the bay, and ask yourself 'where on Earth would I rather be?'

Not relevant to the poster's question but uuuurrrgggh! We bought a PPOR in Chelsea (or Bon Beach technically) in 2004 and sold in 2007 - could not get out of there fast enough. The beach is lovely but I'm still haunted from living there for 3 years. Horses for courses I guess.

Chelsea and Chelsea Heights are 2 very different places. Chelsea feels seaside and has a nice vibe, kinda like a small town (even if I personally hated it) and Chelsea Heights feels like um... Ferntree Gully or very 'outer suburban'
 
Go and eat fish and chips on the sand at Chelsea some time soon, watch the sun set over the bay, and ask yourself 'where on Earth would I rather be?'

How long have you got? I could think of a 1000 better places.

I lived in Chelsea heights for 5 years and while its not the worlds best suburb there is nothing wrong with it and its a good buy as you have access to main roads, public transport shops and the beach 5 min down the road. As for the comment that Chelsea and Chelsea Heights is chalk and cheese i disagree. Chelsea itself is a bogan village and always has been. Rough as guts, low
life bogans with tats, moccies, flannels and smokes tucked in the sleeves and as for the blokes out there....
 
Hi Everyone,
I am new to this forum and I was wondering if I could get anyone's opinion on Chelsea Heights.

My opinion would be it is a pretty average outer south eastern suburb, nothing exciting apart from the proximity to the bay.

I am thinking about buying in the Chelsea Heights area as an investment but I do not know too much about the local area, and would appreciate if people could tell me positives as well as negatives.

IMO As an investment it would be ok, but other surrounding suburbs interest me a lot more than CH, there are a number of competent PM's in the surrounding area and enough industries/trades in the area to keep a steady amount of employed tenants to fill vacancies. If the rental market loosened and prospective tenants could shop around you may have problems as there are more desirable suburbs nearby that would compete for the tenant pool. I would suggest talking to several agents/PM's in the area for their recommendations on what tenants desire in the area as a part of your own due diligence.

Does anyone know what Chelsea Heights used to be before there were houses?

I believe it was swampy land/paddocks bordered by smelly water works and dump as spiderman suggested. the dump has been developed but the water works remain. Most of the swampyness was drained into patterson lakes development I believe. The "Heights" in chelsea heights has nothing to do with elevation or prestige of the land compared to surrounding suburbs, but more to do with councils PR campaign to "sell" the suburb.

Thanks
I Personally love living near the beach, and away from the bustle of city life. I tolerate the mozzies and have no issue rubbing shoulders with "bogans" (not that I believe such a demographic is a majority in the area any longer.)
 
Hi all,

still living with my parents and would love to go ahead with one of the properties in Chelsea Heights. I have had mixed responses.... some good some really bad:rolleyes:;)

being new to property, can you send me some links to ascertain the area and demographics in a better way..

i am looking at paying $490K for a house.... my budget is max $500K... with my dad assisting me with the initial payment...

more knowledge where do i look for historical sales, rental returns and what have you.... still learning but loving every minute of this forum.... would love to make some friends too....

send me PM's with the links and other stuff plzzzzzzzzzzzzzz

thanks
 
send me PM's with the links and other stuff plzzzzzzzzzzzzzz

If anyone does that, please also post the info in this thread as well - so everyone can benefit.

Chelsea/Chelsea Heights is not outer Mongolia. There's great road and public transport access so there's no reason not to visit, and while you're here talk to the hundred or so agents along the highway.

It doesn't cost anything to wander through late at night, or if you really want to do due diligence ask the local trailer village whether they'll let a cabin for a few nights, so you can form your own judgement on the mozzies, sewage smells, bogans, etc.
 
It doesn't cost anything to wander through late at night, or if you really want to do due diligence ask the local trailer village whether they'll let a cabin for a few nights, so you can form your own judgement on the mozzies, sewage smells, bogans, etc.

Spiderman, don't you live nearby? Is Chelsea that different from Chelsea heights? If it were that bad, you'd move out. Right?
 
Spiderman, don't you live nearby? Is Chelsea that different from Chelsea heights? If it were that bad, you'd move out. Right?

The mention of mozzies, sewage, bogans come from recent local paper articles or points others have raised.

I deliberately did not put forward a particular view about the area (though I do have one).

Rather, it was more a suggestion that such things are best evaluated in person rather than relying on hearsay.
 
Originally Posted by Gabstar
send me PM's with the links and other stuff plzzzzzzzzzzzzzz

So your Dad is paying the deposit and you want us to do your research for you? sheeeesh

Take a walk through Centenial Park, some fantastic work going on there.
 
Hi Gabstar,

Check investsmart REIV and buy few reports for the area before you use your dad funds. i checked on RE. All the houses are around $500K mark.

If you are getting it for $450K, get the building inspection done.... if you have any dounts on structure....

Also there are so mkany experienced investors who will help and direct you to the right websittes/links and may be dig info. out from their computers.

Also please visit Information Resources thread and download one of IP Holding cost spreadsheets which will help you understand the income vs expenses + Tax benefits etc...

There are few good PM;s in Chelsea/Chelsea Heights @ 5.5% ( negotiate on letting fees etc as well) I know because i dealt with them before i bought something in Mentone.

Good luck and do keep us updated.

Is this private Sale or Auction??
 
Chelsea = Cheese
Chelsea Heights = Chalk

This is VERY true. About 15-20 yrs ago my friends bought a home in Chelsea Heights. It did NOT increase for well over 10 yrs. They sold and bought on Station St in Chelsea. The growth in Chelsea has far exceeded Chelsea Heights. Buy something in Chelsea, beach side of the bike tracks.

Its worth the extra $50-$100k.

We live Aspendale, not Aspendale Gardens. We are walking distance to beach and station. Well worth the extra money and well suited for when the kids are ready for secondary school in Mentone.
 
Hi Gabstar

Chelsea Heights, Chelsea Aspendale, Aspendale Gardens all had some fantastic growth.

Yes i do agree with the Chalk & Cheese comment but i still think it's not a bad suburb at all.

Time is a great healer. You mite have a slighlty slower growth than beachside suburbs but then you are paying in proportion to that too.

If you can get a house for under $450K ( full block of land), i would say you've done well. There is not a lot out there and just checjed few recent sales ( 1 in kennedy avenue went for $510K on a 500m2 block). The area has definalty got potential for future.

I'm sure your Melway reference info from Spiderman is spot on. Would you comment on Beaumaris, Blackrock, Mordialloc Place used to be an ugly ducking 10 years ago. Just look at the boom now.....
 
... Buy something in Chelsea, beach side of the bike tracks. Its worth the extra $50-$100k.....

Hi Tooney

Shouldn't that be 'worth the extra $250 - $300k'?

The difference from the beach side of the tracks - anywhere, in any condition - to the 'one street back' from the tracks on the land side is significantly more than $50,000

I wish!

Cheers
Kristine
 
Hi Tooney

Shouldn't that be 'worth the extra $250 - $300k'?

The difference from the beach side of the tracks - anywhere, in any condition - to the 'one street back' from the tracks on the land side is significantly more than $50,000

Kristine, I think you mean railway tracks.

Whereas Tooney was referring to bike tracks.

So I think you're both right!

I've never heard this area described as 'beach side of the bike tracks' but I like it :)
 
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