mirrabooka, balga, nollamarra

[Blacky]

Have you looked at the prices/sales of units/villias in Nollamara, unfortunately not that impressive.

Nah, I havent done any research into the area at all - it just popped up. I figured that on 1900sqm with a 1.0-1.1mil purchase price there might be something which you could find the returns on? maybe not - I have no idea.

But fitting 16 onto one piece they dont need to be.

If you picked it up for $1mil, spend another $2mil. Can 16units sell for $4mil ($250k? each) (25% margin). Renting at $250/week you are CF neutral (+/- depending on 1,000 factors).

Can you build 16 units for $2mil? can you get $250k each for them? can you rent them for $250/week. Can you even buy both properties from separate vendors simultaneously? Im sure Aaron can get 16 units to fit (Aaron could get 16 units onto a shoebox) so no issue there but will the council approve? Can you get finance for it? Can it be done?

No idea.

Like I say, I have done no research at all - it just popped up and I thought it interesting (and a bit of fun).

Blacky

 

[MTR]

Hi Blacky

Figures look good, not sure whether Nollamara is ready for multi units?? Developers are building villas/units

MTR




.

 

[Aaron Sice]

Hi Blacky

Figures look good, not sure whether Nollamara is ready for multi units?? Developers are building villas/units

MTR




.

price point of 4x2 townhouse - $599k

price point for 2x1 unit - $349-379k

you tell me there's no market for that product?

 

[Aaron Sice]

16 x 70sqm apartments

i'll take a mix of 2's and 1's - get it up to 18.

 

[MTR]

Girrawheen West

Anyone looking at buying in this area..... this just got listed, good location (West Girrawheen).

The price is low, considering what they are starting at now around $375,000 and in the West Girrawheen location which is much better pocket. This will possibily rent at $350 pw, but a tidy up will probably get you $380 pw

There will be multiple offers for sure, make it subject to finance do your DD.

http://www.realestate.com.au/property-house-wa-girrawheen-113217959?rsf=emailalert-propdetails

 

[Tano]

Hi. Just spotted this listing a few hours ago. I will enquire soon.

 

[MTR]

Hi. Just spotted this listing a few hours ago. I will enquire soon.

She is an out of area agent and is showing clients on Thursday it will go, make sure you put in your offer prior if interested.

 

[Tano]

Thanks MTR
Should I call her back tommorow and tell her I want to come to her office to put in a written offer or will verbal do?

Shall I put in these 2 conditions
1)subject to finance by lender ...
2)subject to satisfactory pest and build report

 

[westminster]

Thanks MTR
Should I call her back tommorow and tell her I want to come to her office to put in a written offer or will verbal do?

Shall I put in these 2 conditions
1)subject to finance by lender ...
2)subject to satisfactory pest and build report

And I'll give you $100 for the frangipani tree.

 

[Tano]

If you could find the property on google maps then it's yours. I can't even find it using intra maps.

 

[Rhinsor]

If you could find the property on google maps then it's yours. I can't even find it using intra maps.

Easy, where the duplex is number 2 it is 2 houses right. Looks like an upside down T

 

[Tano]

Easy, where the duplex is number 2 it is 2 houses right. Looks like an upside down T

Thanks, but how did you figure out that house number 6 corresponds to 62 Pointer Way?

Also, is there any point paying a premium for this R60 zoned house when i can only fit on 3 units on the site (same as R40)

R60 = avg of 180 / 698 = 3. 87 houses.

Even if i went multi dwelling with a plot ratio of 0.7 which is 490sqm of dwellings how do i fit more than 3 houses on here (2x1's) if its not a corner block (since i assume you need driveway access for all dwellings.

Thanks

 

[Rhinsor]

Just looking at the two photos of the house on the website. You can see the tree at the front has a unusual shape, the entrance is on the side of the house, the garage has a point in the middle, driveway on the left etc. Many ways just need to add each thing and then match the house on the street

 

[MTR]

Thanks, but how did you figure out that house number 6 corresponds to 62 Pointer Way?

Also, is there any point paying a premium for this R60 zoned house when i can only fit on 3 units on the site (same as R40)

R60 = avg of 180 / 698 = 3. 87 houses.

Even if i went multi dwelling with a plot ratio of 0.7 which is 490sqm of dwellings how do i fit more than 3 houses on here (2x1's) if its not a corner block (since i assume you need driveway access for all dwellings.

Thanks

Hi Tano
Buyers are paying $375-380,000 for proposed R40.

Contact a couple of the RE agents in the area to find out most recent sales, do your own homework before placing an offer on the property.
If you can view it today that would be great, as I said get in before anyone gets to view it.




MTR

 

[westminster]

Thanks, but how did you figure out that house number 6 corresponds to 62 Pointer Way?

Also, is there any point paying a premium for this R60 zoned house when i can only fit on 3 units on the site (same as R40)

R60 = avg of 180 / 698 = 3. 87 houses.

Even if i went multi dwelling with a plot ratio of 0.7 which is 490sqm of dwellings how do i fit more than 3 houses on here (2x1's) if its not a corner block (since i assume you need driveway access for all dwellings.

Thanks

Tano - multi dwelling is apartments so it would need to be 2 storey with only one driveway to car bays. That would be let's say 6 apartments with parking - it looks like it might be within cooee of a high frequency bus route so you might only need 4 or 5 car parking bays.
Likely layout would be one to two apartment on ground with the car bays then rest of apartments on top.
Could be squishy to meet all requirements but might be doable.

 

[sanj]

Tano - multi dwelling is apartments so it would need to be 2 storey with only one driveway to car bays. That would be let's say 6 apartments with parking - it looks like it might be within cooee of a high frequency bus route so you might only need 4 or 5 car parking bays.
Likely layout would be one to two apartment on ground with the car bays then rest of apartments on top.
Could be squishy to meet all requirements but might be doable.

Not having carbays for all apartments in girrawheen would be a recipe for disaster imo

 

[westminster]

Not having carbays for all apartments in girrawheen would be a recipe for disaster imo

Agreed Sanj but I know Aaron did a Balga design with less than one bay per apartment so I thought I would mention the possibility. Personally I think each apartment needs a bay.
I hope there is a nice verge for their second and third wreck too

 

[sanj]

instead of scooter bays maybe busted second/third/fourth hand pram bays?

 

[Aaron Sice]

instead of scooter bays maybe busted second/third/fourth hand pram bays?

not more than 250m proximity to the Balcatta Bailing Plant....

 

[Aaron Sice]

Agreed Sanj but I know Aaron did a Balga design with less than one bay per apartment so I thought I would mention the possibility. Personally I think each apartment needs a bay.
I hope there is a nice verge for their second and third wreck too

Yeah Princess Rd is the only route in the area that has a HF Bus Route - i had to show Stirling the timetable to prove it.

We're doing somethign more creative with that one - we're going to convert one carbay into 4 scooter bays under the Strata By-Laws.

they're also retaining all dwellings not taken by the builder from the JV.

plans attached for reference.