I am an active property investor who has followed Jan's ideas for approx. 10 years and has decided to reluctantly place on of my properties for sale so as to comence a development of another in the same Street.
The property is located at 105 Seagull Ave, Mermaid Beach Qld. 4218 and is only one block from the beach (100-150m).
I purchased the 1970's lowset brick property in late 1997 and totally rennovated the house inside and out. New kitchen - Blanco oven, cooktop, rangehood, sink dishwasher, new Ensuite & Bathroom, new windows, floor coverings, fully rendered, reverse cycle air conditioning/heat, alarm system, security gate, double offstreet parking.
It is on a 433 square metre block which is duplex zoned, with a 12.5 metre street frontage. Yes, you can hear the waves and would have ocean views if a second level was constructed.
Opportunity to add a second level and garage to house or redevelop into duplex pair with ocean views.
It is presently rented to friends at $400 p/w $20800 p/a, but could easily achieve $430 per week. I know the rental return is not fantastic, but the growth and development potential are.
This area has grown substantially in the past 5 years and shows no indication of slowing. As such, I intend to embark on a duplex development up the road and this is also a prime site for a similar opportunity.
I resided in the property myself for 3 years and am only selling it to realise some profit - without capital gains to continue my investments/developments.
Presently listed for sale at $890K through the Professionals, Mermaid Beach. Property can be viewed through prohenderson.com.au, property ID 46171.
BUNDY
The property is located at 105 Seagull Ave, Mermaid Beach Qld. 4218 and is only one block from the beach (100-150m).
I purchased the 1970's lowset brick property in late 1997 and totally rennovated the house inside and out. New kitchen - Blanco oven, cooktop, rangehood, sink dishwasher, new Ensuite & Bathroom, new windows, floor coverings, fully rendered, reverse cycle air conditioning/heat, alarm system, security gate, double offstreet parking.
It is on a 433 square metre block which is duplex zoned, with a 12.5 metre street frontage. Yes, you can hear the waves and would have ocean views if a second level was constructed.
Opportunity to add a second level and garage to house or redevelop into duplex pair with ocean views.
It is presently rented to friends at $400 p/w $20800 p/a, but could easily achieve $430 per week. I know the rental return is not fantastic, but the growth and development potential are.
This area has grown substantially in the past 5 years and shows no indication of slowing. As such, I intend to embark on a duplex development up the road and this is also a prime site for a similar opportunity.
I resided in the property myself for 3 years and am only selling it to realise some profit - without capital gains to continue my investments/developments.
Presently listed for sale at $890K through the Professionals, Mermaid Beach. Property can be viewed through prohenderson.com.au, property ID 46171.
BUNDY
