mirrabooka, balga, nollamarra

[ems]

Hi Venno
Deaseased Estate, just was emailed to me. This will snapped up very quickly.

At this price, appears to be very cheap compared to what is on the market, check out realestate.com.

Looks like it needs a reno, if you only need to spend $10-15K its worth jumping in, there also may be a possibility of building at rear, you will need to do your homework on this, contact Wanneroo Council. I would expect this to be worth closer to $360K+ when cleaned up.

http://www.realestate.com.au/property-house-wa-koondoola-112568791?rsf=emailalert-propdetails

Cheers
MTR

We went and saw this one this afternoon. Not a bad buy if you could get it for around the $300k mark. Structurally sound just needs some internal stuff done, ie. New kitchen, bathroom, carpets, paint and a bit of landscaping. Would estimate around the $15k mark. Not sure about building at the rear, you would need to take the shed away and it did look quite small at the back but i'm not sure the setbacks, boundaries that are allowed in this area. Would need to check with council..

Ems

 

[eyespy]

Thanks for the help MTr...I have called the council previously about requirements for building and they have said that it is case by case to be reviewed and they couldn't give me exact yes or no til it went to application. So I guess I might need to get a planner to look at each potential one

 

[venno]

Hi Venno
Deaseased Estate, just was emailed to me. This will snapped up very quickly.

At this price, appears to be very cheap compared to what is on the market, check out realestate.com.

Looks like it needs a reno, if you only need to spend $10-15K its worth jumping in, there also may be a possibility of building at rear, you will need to do your homework on this, contact Wanneroo Council. I would expect this to be worth closer to $360K+ when cleaned up.

Thanks for that MTR, could be a nice little renter but it looks a bit tight to get something built at the back.

The right idea though, build at rear whilst renting front then flog one keep one.

Never been to Koondoola, whats it like as suburb?

 

[westminster]

On the wanneroo website for r40 rezoning they say u can build 3 units potentially on 660 to 879 m2. 660 seems pretty small to have 3 units. So u are saying I should aim for how more than this to make sure 3 can fit on? What other factors should I look for ? Large frontage .....flat land ? .

Technically all you need is 660sqm to meet Residential Design Codes (minimum 200sqm, average 220sqm) but as you have guessed that is tiny - you'd definitely have to work with single garages to make it work.

To do a 3bed, 2 bath with double garage triplex I would recommend 720sqm minimum.

To do a battleaxe development you need 400sqm for the rear block which is pretty difficult on those sizes.

The solution for house behind house is do it as a Grouped Dwelling. You run the front houses garage/carport off the access leg to the rear block - making the access leg common property. Then the rear block just has to be 200sqm in R40.

You'll need at least 3.5m down the side of the original house to run the access leg to the rear property. The front and rear house will need 20sqm courtyard.

All the rules are here http://www.planning.wa.gov.au/dop_pub_pdf/R_CodesSPP_3.1.pdf

 

[westminster]

I had my offer on a place in Nollamara accpeted 2 weeks ago and should be settling in Jan. Finally off the mark and back into property investment after nearly an 8 year hiatus

Competition is high amongst buyers in this area and Westminster, I must have gone to nearly every home open and all but one place on sunday they were getting big crowds.

I ended up buying a new 3/2/2 villa finished to a higher than normal standard, hopefully will get $450+ pw rent. Many thanks to Westminster on this forum for his advice and insights into this area for property investment, hope your latest project goes well.

Would love to buy a dev block as aforementioned that you can retain front property and build at rear, lovely way to manufacture equity.

Great news! I'm glad you found one!!

 

[MTR]

Thanks for that MTR, could be a nice little renter but it looks a bit tight to get something built at the back.

The right idea though, build at rear whilst renting front then flog one keep one.

Never been to Koondoola, whats it like as suburb?

I am not a great fan of Koondoola prefer Girrawheen (west) and as I mentioned rents are much higher in this area which makes it very attractive to hold.

However, if you can purchase at the right price and with current plans of rezoning I don't think it will matter which you chose. Just make sure you do your homework as to what you can actually build etc.

Westminster has provided further details which is great and will help.
Cheers, MTR

 

[MTR]

We went and saw this one this afternoon. Not a bad buy if you could get it for around the $300k mark. Structurally sound just needs some internal stuff done, ie. New kitchen, bathroom, carpets, paint and a bit of landscaping. Would estimate around the $15k mark. Not sure about building at the rear, you would need to take the shed away and it did look quite small at the back but i'm not sure the setbacks, boundaries that are allowed in this area. Would need to check with council..

Ems

Hi Ems
I would not be surprised if there is an offer on this within the next couple of days. There were 7 offers on one property which recently sold on same street we purchased, very similar properties they paid $25K more that was 1 month later. The cheapies go real quick, no surprise. Though I don't believe there is any need to panic, sure there has been a spike, but I suspect the market may go sideways for a while, just my gut feeling.

Cheers, MTR

 

[venno]

Great news! I'm glad you found one!!

Cheers, I went to more home opens in 2 weeks than I have done my whole life.

I put in a few offers over the place that were rejected until I got one thru. Some vendors of new builds are pricing their properties quite high and won't budge far from asking, consequently they're still listed.

 

[venno]

I am not a great fan of Koondoola prefer Girrawheen (west) and as I mentioned rents are much higher in this area which makes it very attractive to hold.

However, if you can purchase at the right price and with current plans of rezoning I don't think it will matter which you chose. Just make sure you do your homework as to what you can actually build etc.

Cheers for that will have to investigate further.

Is the rezoning a given?

 

[MTR]

Cheers for that will have to investigate further.

Is the rezoning a given?

Perth is bursting and these government revitalisation programs are happening in a number of areas its just part of the big plan and it really just makes commonsense, infrastructure in place saves government money etc.

The ball has been rolling for a while now and I am very confident that it is not if but when and like most I have spoken to who know more than me they are saying 18 month - 2 years. Closer to this timeframe we will see the area really moving, I guess that is why in many cases prices have already moved as investors see the writing on the wall.

 

[ems]

Technically all you need is 660sqm to meet Residential Design Codes (minimum 200sqm, average 220sqm) but as you have guessed that is tiny - you'd definitely have to work with single garages to make it work.

To do a 3bed, 2 bath with double garage triplex I would recommend 720sqm minimum.

To do a battleaxe development you need 400sqm for the rear block which is pretty difficult on those sizes.

The solution for house behind house is do it as a Grouped Dwelling. You run the front houses garage/carport off the access leg to the rear block - making the access leg common property. Then the rear block just has to be 200sqm in R40.

You'll need at least 3.5m down the side of the original house to run the access leg to the rear property. The front and rear house will need 20sqm courtyard.
All the rules are here http://www.planning.wa.gov.au/dop_pub_pdf/R_CodesSPP_3.1.pdf

Thanks for that Westminster!

Wow that's a lot of info to take in.

Ems

 

[WesternRat]

Perth is bursting

What meaning of bursting are you using?

- Population is bursting at the seams
- Market boom is starting to burst

 

[Aaron Sice]

Hi eyespy

The average size block in Girrawheen/Koondoola is 698 sqm2 and most will be rezoned - 3 unit sites, however I have spoken to my guy who has been developing stuff for over 20 years and he said that 3 unit site on this size block is way to small and not a viable option.

depends on the orientation.

i have put a triplex on a 662sqm lot, including access leg, but it was not your typical build.

why you would, though, when you could put six 2x1s on it is beyond me.

 

[westminster]

depends on the orientation.

i have put a triplex on a 662sqm lot, including access leg, but it was not your typical build.

why you would, though, when you could put six 2x1s on it is beyond me.

Correct and a good alternative to the standard triplex.

Put a Multi Dwelling (flat) on an R40 site and you have more options. You can build something 0.6 times the land size (eg 0.6 x 698 = 418.8 sqm building)

You will find it a little harder to get finance for 6 dwellings on one title though as residential rates. If you wanted to stick to 3-4 dwellings on one title you could build 4 x 100 sqm flats which could be very very comfortably 3bd/2bath (even 4bd!)

 

[MTR]

depends on the orientation.

i have put a triplex on a 662sqm lot, including access leg, but it was not your typical build.

why you would, though, when you could put six 2x1s on it is beyond me.

Aaron and Westminster

All very interesting.

I guess I need to see what evolves and what developers are doing in the area that will work at that time, gotta be able to sell the product, and as I am new to this game.




Cheers MTR

 

[MTR]

Under offer within 1 week

Hi All

I did say it would get sold very quickly
http://www.realestate.com.au/property-house-wa-koondoola-112568791?rsf=emailalert-propdetails


This one also got snapped up within 1 week, did anyone here buy it????
http://www.realestate.com.au/property-house-wa-girrawheen-112551743



MTR

 

[ems]

Correct and a good alternative to the standard triplex.

Put a Multi Dwelling (flat) on an R40 site and you have more options. You can build something 0.6 times the land size (eg 0.6 x 698 = 418.8 sqm building)

You will find it a little harder to get finance for 6 dwellings on one title though as residential rates. If you wanted to stick to 3-4 dwellings on one title you could build 4 x 100 sqm flats which could be very very comfortably 3bd/2bath (even 4bd!)

I'm new to all this so sorry about the dumb question but how can you get 6 units on a 698sq2 R40 block when you can only get 200 minimum site area per dwelling?? Maybe i'm reading the rules wrong..wouldn't you only fit 3 on there??

Ems

 

[WesternRat]

Wonder if its double-storey?

 

[UrbanPlanner]

If your doing multi units (apartments) then you can throw out the minimum lot size requirements and instead the density is determined by plot ratio.

 

[Beijos2]

Does anyone wonder if once the rezoning is official and a stack of blocks get redeveloped with 2, 3, or more houses that the Girra market will become over saturated? Think Balgacurrently where every 3rd old quarter acre block now houses triplexes. Prices stagnant due to so much supply. Residents complaining about all the development to whete the council may now make tougher R codes or something.

Ie if many developers buy in Girra and over a 5 to 10 yr period many develop. As well, the remaining big.block houses would nearly be the same price as the new places so ppl might just buy those instead?