Thoughts on Mt Hawthorn

[MTR]

This ones been around for well over a month, started out asking $895k+ IIRC

That's is most certainly overpriced, I just had a quick look and it was I think 2.00 am, could not sleep, trying to get my US tax sorted

The value/bargains in Mt Lawley at the moment is the higher end over $1.5M there are some screaming bargains but at that entry level its not a hold. Great if someone is looking at buying their primary residence.

 

[sanj]

Its not a bargain, its on Flinders Street, very busy road and units sell for less because of this. Also, I don't think you would get 3 on this size block, they would be dog boxes if could, my builder recommends at least 728 sqm for 3 single units, I wont argue with him

that would be for single storey, you'd fit 3 double storey here. whether or not it would be worthwhile is another issue.

 

[MTR]

that would be for single storey. youd fit 3 double storey here. whether or not it would be worthwhile is another issue.

OK, I don't think it would be worth it because it's Flinders Street, but then I have not closely looked at sales on this street, cost so much more to go double as well

 

[venno]

Don't know whether you found something, still looking or what, but this looks like it may have potential, renovate, location is good

http://www.realestate.com.au/property-house-wa-mount+lawley-114033259

Cheers for thinking of me MTR, I'm still looking for ip no 2. Sort of given up on the devvy option as I can't find anything within my financial capacity that I can make money on at some point.

Tried to replicate my Nollamara buy of ip 1 but prices have moved on since nearly a year ago now that I first started looking there.

I haven't given up on mt hawthorn though and am looking at a townhouse on Wednesday morning. It's not an ideal ip as it has a strata but it has just had a price reduction that will place the yield in the right spot.

 

[westminster]

R40 with 653m2 to play with and a ROW you could get 3 units on that site, especially with the new R-Codes reducing the minimum lot size for R40 to 180m2 (average of 220m2 stays that same but the 5% variation has been made easier to get). I'd imagine you would have to pay to pave, drain etc the ROW from Wiluna St as has been done for those duplexes on the northern end of that street block

Or put apartments

Did you see the 'granny flat' in the backgarden

 

[Aaron Sice]

found a triplex yielding 37% after GST with a 6000 postcode.

it's the upper end, would cost near a mil all up to have each lot green titled, incl orig purchase....can put a 4x4 on each lot though and presell.

 

[westminster]

found a triplex yielding 37% after GST with a 6000 postcode.

it's the upper end, would cost near a mil all up to have each lot green titled, incl orig purchase....can put a 4x4 on each lot though and presell.

Talk to me baby

 

[UrbanPlanner]

Or put apartments

Did you see the 'granny flat' in the backgarden

haha I did see the 'granny flat', looks like it's been built from whatever could be found on verge collections. i noticed it had 'no boys allowed' painted on it though, so there goes half your tenant pool

 

[westminster]

Don't know whether you found something, still looking or what, but this looks like it may have potential, renovate, location is good

http://www.realestate.com.au/property-house-wa-mount+lawley-114033259

Now here is some 'gossip' about this one. I was looking at it on Intramaps to see it's zoning and it's R40 then I noticed that it seemed to have already been subdivided BUT not front/back it's side by side with one block being 175 and the other 209. Each is only 5 or so metres wide though.
Neither of them meet the R codes site requirements for size but that is what it seems to be telling me. I infer from this that there might be a planning approval (possibly expired) somewhere for this and potentially permission to demolish the house at one time.

Still too expensive but interesting

 

[venno]

Had a look thru the townhouse in Mt hawthorn and it was pretty good, decent size and a good location. Only drawback is being part of a large'ish strata group (13).

Even accounting for the strata fee's, which were quite reasonable at just over 300 per quater, its not too bad for holding costs if the rental estimate holds true (675-695, I have worked my numbers on 650).

Not a period home but a 90's build, the location should ensure capital growth though. Walking distance to cafe strip and transport.

Just got to work out my opening offer if I decide to proceed.

 

[venno]

Well, the offer and acceptance dance has finished.

This time next month I should be the proud owner of 3x2x2 townhouse in Mt Hawthorn....as long as the bank agrees....

 

[westminster]

Well, the offer and acceptance dance has finished.

This time next month I should be the proud owner of 3x2x2 townhouse in Mt Hawthorn....as long as the bank agrees....

Woohoo! Congrats!