New villas for sale in ARMADALE, WA

[urban cowboy]

Hi folks,

at the risk of copping the wrath of those who don't like this sort of post, this is genuine...I was speaking to my neighbour yesterday, he is selling two investment properties in Armadale, WA to fund renovations of his PPOR here.

He is keen to get them away and asked if i knew anyone in investment world looking to buy - so thought i'd post them here and see if anyone was interested. Alternatively, i am sure that i will get some opinions on why/why not they would be a good investment etc...so fire away!!

DISCLAIMER: I am not posting this as an agent, not getting anything out of it and do not know much about them - having never been to WA...just want to help the neighbour out.

The properties are 3x2 villas in Little John Rd, Armadale, built by Summit Homes are nearing completion. Below is part of the marketing blurb that was to be used.

3x2 villa in Sherwood Court Complex in the fantastic new
Armadale suburb. Villas are expected to be completed in March
2008 and will be turn key investment opportunity. Stainless steel
appliances, reverse cycle wall air conditioning unit, built in
robes, store room, quality fittings & fixtures, courtyard, carport
& also boasts a spacious 134 sqm floor plan.
With an expected rental return of between $280—-$320 per
week this outstanding villa will prove a fantastic addition to your
investment portfolio.

The neighbour is keen to move them so if anyone has any interest or wants to know more, please let me know and i'll put you in touch with him (or find out and get back to you if you prefer). Price is $335k-349k depending on which one etc.

cheers
UC

 

[Bazza]

Has the Perth market cooled off? I thought people were going crazy buying anything and everything?

Cheers,

Bazza

 

[Ausprop]

Market has split, anything $2m+ walking out the door, the cheaper $400k stuff is a lot slower and has gone backwards. Bit of a perfect storm brewing, housing starts have dropped and investors have turned their attention to melbourne, whilst population and economic growth is continuing strongly. Rents are vulnerable to significant upside risk!

as for these ones, without seeing the specifics, the prices and rents seem pretty spot on.

 

[Dazz]

For $ 349 each, I'll take 'em both. I've got that in my pocket right now.

Where do I sign up ??

 

[feihong]

Market has split, anything $2m+ walking out the door, the cheaper $400k stuff is a lot slower and has gone backwards. Bit of a perfect storm brewing, housing starts have dropped and investors have turned their attention to melbourne, whilst population and economic growth is continuing strongly. Rents are vulnerable to significant upside risk!

hahaha.. you call it like a financial commentator

 

[urban cowboy]

For $ 349 each, I'll take 'em both. I've got that in my pocket right now.

Where do I sign up ??

sent you a PM mate...

UC

 

[JIT]

For $ 349 each, I'll take 'em both. I've got that in my pocket right now.

Where do I sign up ??

I think he said 349k...

 

[urban cowboy]

hehehe,

in Dazz's defence i did have $349 originally...changed it after his post.

also sent him a PM trying to get him in anyway...the REA in me couldn't resist

thanks for the pickup though JIT!!

cheers
UC

 

[Ausprop]

you would be one heck of a REA if you could convince Dazz to buy a resi IP !

 

[Dazz]

What ???

349K ??? You've got to be joking.

For that amount of money you could pick up half of Armadale.

At $ 280 p.w., that's 4.1% gross yield and after your costs of {CR / WR / LT / Ins / PM fees / maintenance} that'd be a nett yield of about 2.5 or 2.6%.

Why wouldn't ya just buy some Big Four bank shares paying 4.5% nett yield with no costs, no stamp duty, no headaches and no ongoing work....and someone else does all the paperwork ??

 

[Ausprop]

because resi property is garuanteed to double every 7 years, whereas shares are risky?

 

[JIT]

Why? Eg. Centro

 

[Aaron Sice]

rents and prices are spot on.

i do a lot of work in armadale and Little John Road is a nice street.

these units should sell well - although there are a lot of 3x2s DG to choose from in Armadale now.

you gotta remember, a run down 3x1 60s veneer home on 600sqm is going for $370k, so these 3x2 DG with new everything and aircond on a good street is actually a good buy.

villas are the way to go in Armadale for both a PPOR and IP unless you're a developer...

 

[urban cowboy]

thanks for the heads up Blue Card...much appreciated.

i know bugger all about the area having never been west of broken hill.

not that this really affects me at all, but it would be nice to see the neighbour offload them as he wishes.

cheers
UC

 

[Qlds007]

UC wow you are well travelled.

I now people here in Bris who have never been West of Highgate Hill.

 

[urban cowboy]

hehehe...thanks mate!! haven't always been your local dumb REA

in a similar vein - my offsider's husband works for qantas and hence gets cheap flights...its a running joke that she has never been west of moggill by car - any more than a 20 minute drive and they fly!!!!!!

cheers
UC