Seaford Vic Bargain 4 Unit Site for $395,000

[grand dad]

According to the Valuer General, over 40% of existing Frankston and Seaford homes sit on subdivisible land (the equivalent figure for the rest of Melbourne is less than 2%).

http://www.realestate.com.au/property-house-vic-seaford-114916863

This brick and tile gem seems too good to be true. It appears to be selling for $125,000 under what equivalent homes have sold for. Is there something wrong with it? I tried calling the agent but he seems not to answer his phone or respond to emails.

Is this a legit listing? Or just some ploy by an agent to achieve a quick sale (bugger the owner)? If any of you have had better luck contacting the salesman, Damian Wooster, please PM me.

 

[Jake Milne]

Where is the source from the AVG Grand dad?

 

[Beanie Girl]

http://www.realestate.com.au/property-house-vic-seaford-114916863

This brick and tile gem seems too good to be true. It appears to be selling for $125,000 under what equivalent homes have sold for. Is there something wrong with it? I tried calling the agent but he seems not to answer his phone or respond to emails.

Hi Grandad, the property is backing right onto the Seaford Hotel and a Dan Murphy's. Maybe the owner/tenants are tired of drunk patrons spilling out of the hotel and fighting? Just making a guess why it would be so cheap. The number 4 is also not an auspicious number for the Chinese but maybe the Chinese investors won't come so far out to buy here.

 

[MRCCON]

It's cheap because its essentially carrum downs.

Seaford is quite a large suburb, there's two very good parts of it, the pocket running along station st that borders carrum at eel race rd, the other is the beach side of the train tracks near kannanook station.

The rest if the suburb is absolute trash. Especially the carrum downs end, it's extremely rough.

 

[S.T]

Agree, hard to find a worse location in Seaford than this block. Across the road is Frankston North and Cazza D is just up the road.

Block is a wedge shape also, might make it more difficult to get 4 units on...

 

[grand dad]

Where is the source from the AVG Grand dad?

I am a retired valuer. When I was registered and working, the Valuer General's office would send us a monthly blurb abut markets and the source of my information was in that report of early last year. I don't think its priviliged information. If I can find a copy and persuade the kids to scan it, I will send it to you by PM. Best to do your own due diligence: I am sure you can confirm the same through Frankston City Council or the VGO's office if you pay them a visit.