G'day,
I am wondering if anyone could offer some views on the property below and reasons that it may not have sold.
http://www.realestate.com.au/property-unit-vic-frankston-113790523
I can't remember off hand but the rent being achieved is about $230 per week and the strata is definitely $720 per annum. There is 16 in the block (8 each side with a lot of common land in between) and is zoned business so could be a good developments site later on for a hotel etc.
Cons are that it is near the former Abassodor complex which has approximately 100 studio/one/two bedders and a bad reputation. Prospective buyers may be put off by the highway traffic noise. Apart from this it is near the beach, train station and Bayside Shopping Centre.
Comparable sale in the same complex is as below:
http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=145649
There was one also up for sale recently for offers $220,000 and over and it appears it was removed from the market after being on for about 3 months.
On the other hand, you have the one below which was sold at $230,000 recently and the list price was offers over $215,000. It is slightly further back from the beach.
http://raywhitefrankston.com.au/vic/frankston/992761/
I just can't seem to figure it out as two bedders with similar size courtyards and on the East side of the train line but before the Frankston freeway are going for a bit more and the location isnt as great. Maybe the listing has gone stale?
Thanks in advance.
I am wondering if anyone could offer some views on the property below and reasons that it may not have sold.
http://www.realestate.com.au/property-unit-vic-frankston-113790523
I can't remember off hand but the rent being achieved is about $230 per week and the strata is definitely $720 per annum. There is 16 in the block (8 each side with a lot of common land in between) and is zoned business so could be a good developments site later on for a hotel etc.
Cons are that it is near the former Abassodor complex which has approximately 100 studio/one/two bedders and a bad reputation. Prospective buyers may be put off by the highway traffic noise. Apart from this it is near the beach, train station and Bayside Shopping Centre.
Comparable sale in the same complex is as below:
http://house.ksou.cn/p.php?q=Frankston&sta=vic&id=145649
There was one also up for sale recently for offers $220,000 and over and it appears it was removed from the market after being on for about 3 months.
On the other hand, you have the one below which was sold at $230,000 recently and the list price was offers over $215,000. It is slightly further back from the beach.
http://raywhitefrankston.com.au/vic/frankston/992761/
I just can't seem to figure it out as two bedders with similar size courtyards and on the East side of the train line but before the Frankston freeway are going for a bit more and the location isnt as great. Maybe the listing has gone stale?
Thanks in advance.
