Realistic minimum land size for 3 dwellings

it's pretty silly but unfortunately the people willing to pay those prices make it harder for people who want good profits. same reason i stopped looking in morley and bedford a few years ago whereas i was a fan before.
 
Holy crap! This block is just up the street from my triplex

http://www.realestate.com.au/property-house-wa-westminster-112913343

$500k!!!! for 746sqm. You used to be able to pick up sites like that for $420 last year

The area really is moving.

That's right the area is moving, maybe buy do nothing and perhaps make more money.

Thanks WM and Sanj for input, appreciate this.

The bottom line is I should have purchased Highgate:p. Definately a winner

seriously though, I think there is money to be made but I need to look at different areas, closer to city, where resale is higher

Cheers MTR
 
it's pretty silly but unfortunately the people willing to pay those prices make it harder for people who want good profits. same reason i stopped looking in morley and bedford a few years ago whereas i was a fan before.

Sanj
I gave up as well.
 
Yes but you had to put in tandem parking/ single garages which is not ideal so that is why I prefer slightly larger.

I had a friggin massive corner block at 805sqm for r40 which created a development bigger than norm. Over capitalisation? No because I got above market rents and valuations higher than the stock standard. But you don't need that much to develop something nice.

i made the client aware that singles were in order, these had no trouble selling (because i'm amazing, of course :rolleyes:) but then you're hamstrung with an "inbetweener" block size.

allows you to put a 3x2 and study with double garage into an area saturated by basic 3x2s.

i call that an advantageous exit strategy and the cost to construct might only be a few thousand more but will achieve maybe $35k more in resale if labelled as a 4th bed.
 
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