North Perth Example

[mrdobalina]

I picked up a house in North Perth today. $595k on a 460sqm block with a 3 x 1 house which is basically a 4 x 2.

Nice one WM. Apartments will go nicely there, plus close to dog swamp shops. The fact the ad didn't have a price probably put off a whole bunch of potential buyers...

 

[sanj]

Yeah agent cocked up on 3 levels Imo.

Congrats myf, we'll have to catch up to celebrate when I'm back, in the balkans atm

 

[westminster]

Nice one WM. Apartments will go nicely there, plus close to dog swamp shops. The fact the ad didn't have a price probably put off a whole bunch of potential buyers...

It did put me off a bit. I assumed it would be more but then I thought 'what the heck!' and rang and asked.

Yeah agent cocked up on 3 levels Imo.

Congrats myf, we'll have to catch up to celebrate when I'm back, in the balkans atm

For sure! Let me know when you're back in Oz and we'll catch up.

 

[INVSTOR]

I picked up a house in North Perth today. $595k on a 460sqm block with a 3 x 1 house which is basically a 4 x 2.

Good things about the deal:
- block is R60. So I can build 322 sqm of apartments on it. (4 x 3 bedrooms perhaps) (zoning not mentioned in ad)
- has a rear laneway for easy parking for apartments
- is rented out by the room for 800-900 per week ( high rent not mentioned in ad)

Downsides:
- on a busy main road. I'm not worried about that - it means public transport, shops/amenities close by etc.

At $1300/sqm I'm pretty happy to get a R60 block in North Perth.

Wow! Go girl! That's great news.

 

[Cruskits]

Great pick up.... Just quietly I am in awe.

 

[MTR]

Good work Myf
I know this agent, she generally does well for her clients, achieves good prices in these inner city areas. However, she purely based this one on location, sandwiched between 2 main roads and not the potential I am surprised she did this, completely ignored what can be achieved.

Good start to retirement, I am setting on my new addition in June but still looking for another, finding it difficult, can you please be my buyers agent you have the golden touch

MTR

 

[westminster]

Sorry for the thread hijack

What I was trying to say that the property I picked up was same price but has way more potential - bigger block, not a complex, high rent, good zoning for redevelopment.

So if you look around you can find better choices than the Albert St one but they don't come up very often.

 

[PerthNoob]

However, I'm not convinced about that particular place

Would you be able to elaborate? Would love to hear thoughts on the negatives people see with regards to this property.

The Charles St property definitely looks a better investment!

Would anyone with more experience be able to give some insight in terms of what price would make this townhouse a good buy?

Some figures that might help?

- sold for $459k in Mar/2009 and $515k Jan/2012
- property 8 in same complex (also 3x1, 169sqm) sold for $492k May/2012
- property 6 in same complex (also 3x1, 178sqm) sold for $447k Feb/2009
- up the road, 3/19 Albert St, also a 3x1 townhouse in a similar sized complex of 9 sold for $615k in Feb this year. It is a larger property with a larger land component of 263sqm versus 169sqm, though older building (1988 versus 2000)

Thanks again!