Was wondering how would you value this particular unit block,
Med Fairly large regional town
8 x 1 bdr units
Very few units blocks have sold over the years
Medium demand for sales of single bar dwellings
One title
All units poor condition, rentable but need a make over
Bidding to start at 500k
2 bedroom units sell for 120k each
The problem being faced is very few unit block or individual sales
Not the greatest demand, yield individually would be good say 9%ish
Single title, the possibility of strata ING is unknown since nobody knows anything about the walls etc.
Is there a magic formula that people follow for valuing unit blocks?
This one is hard because of it being new in many aspects,
My aim is to buy and hold and enjoy the cg, and if I can strata it, successfully and cost effectively, that may boost value of the block by 20% for example
Or do people who have no intention of strataing don't care whether its possible to strata or not?
Thanks everyone
Med Fairly large regional town
8 x 1 bdr units
Very few units blocks have sold over the years
Medium demand for sales of single bar dwellings
One title
All units poor condition, rentable but need a make over
Bidding to start at 500k
2 bedroom units sell for 120k each
The problem being faced is very few unit block or individual sales
Not the greatest demand, yield individually would be good say 9%ish
Single title, the possibility of strata ING is unknown since nobody knows anything about the walls etc.
Is there a magic formula that people follow for valuing unit blocks?
This one is hard because of it being new in many aspects,
My aim is to buy and hold and enjoy the cg, and if I can strata it, successfully and cost effectively, that may boost value of the block by 20% for example
Or do people who have no intention of strataing don't care whether its possible to strata or not?
Thanks everyone