Unit 12 / 315 Military Rd Vaucluse

XBenX

XBenX

Ok guys heres the deal - please pick it to pieces or add +ve comments.

This aint mine I was actually looking to buy it but I dont think it will be suitable for me.

3bd / 2bath / Internal Laundry / LUG / Balcony

3 storey walk up 70's style red brick - good bones, large (not sure of m2)

Ocean Views / NE Aspect / Top Floor

Bank Val 6mths ago at $720K

Last traded

315
L12/SP2586_
06/07/2001
675,000_
BILENKA &, BILENKIY &, BILENKY _

Other sales in the building

L1/SP2586_ 01/08/1996 249,000 SRISKANDARAJAH MARY C R & K _
L3/SP2586_ 22/01/1996 260,000 MAH AMOUR _
L5/SP2586_ 10/06/1993 250,000 LILEY BRENDA MARGARET _
L7/SP2586_ 22/03/2001 430,000 DAYMAN &, TANYA ELIZABETH BREZNI_
L8/SP2586_ 29/07/2000 397,000 SUPPREE J & A J _
L8/SP2586_ 06/06/1997 330,000 GADDIN STACEY _
L9/SP2586_ 26/10/2000 420,000 FONG _
L9/SP2586_ 11/07/1998 320,000 SLOAN KERRYN MIRINDA _
L10/SP2586_ 30/03/2000 375,000 BERSON BERNARD LARRY _
L11/SP2586_ 23/03/1994 243,000 RUDNICK & GABRIELLE -LYNNE RAIZ _
L12/SP2586_ 02/06/1992 222,000 LAMB MARK JOHN & C M _
L12/SP2586_ 17/11/1993 245,000 MOORE & JOSEPH MORI TS ANTHONY _
L12/SP2586_ 20/12/1993 245,000 MORITS & A MOORE J _
L12/SP2586_ 06/07/2001 675,000 BILENKA &, BILENKIY &, BILENKY _

Rental information

Currently leased to long term tenant at $500wk (havent sighted the lease)

Other comparable rentals

$470pw
1/107 NEW SOUTH HEAD ROAD
SPACIOUS 3 BEDROOM APARTMENT !!!!!!
Fantastic 3 bedroom apartment, modern kitchen, 1 . 5 bathrooms with bath, polished wooden floors, balcony, laundry, LUG, superb location seconds to shops/transport.

$575pw
3/11 CHAPEL RD. Spacious 3 bed apt. in quiet, leafy loc. New granite kit., int. lndry., lge. scenic balc., l.u. grge.

Other Recent 3bd Military Rd Sales

322 L5/DP11739 01/01/1930 610,000 08/05/1999 3BED,1O/RMS,VIEW
324 L4/DP11739 01/01/1930 825,000 05/02/2001 3BED,2CAR
329 L7/DP13049 01/01/1930 650,000 23/05/1998 3BED,2BATH,1LUG,1ENS
339 L5/DP232439 01/01/1930 798,000 06/03/1999 3BED,1O/RMS
354 L14/DP13733 01/01/1930 770,000 19/03/1999 3BED,3BATH,1O/RMS
355 LB/DP408260 01/01/1930 543,000 23/10/1999 3BED,1CAR,1RUMP
355 LB/DP408260 01/01/1930 725,000 28/07/2001 3BED,1CAR,1LNG

General Vaucluse Info

The size of Vaucluse is approximately 3 km². It has 11 parks covering nearly 18% of the total area. There are 3 schools and 1 childcare centre located in Vaucluse.

The population of Vaucluse in 1996 was 19,438 people. By 2001 the population was 20,452 showing a population growth of 5% in the area during that time.

The predominant age group in Vaucluse is 40 - 49 years.

Households in Vaucluse are primarily couples with children and are likely to be repaying over $2000.00 per month on mortgage repayments.

In general, people in Vaucluse work in a professional occupation.

In 1996, 58% of the homes in Vaucluse were owner-occupied compared with 65% in 2001.

Currently the median sale price of houses in the area is $3,213,524.

Median Unit Price Movements

Period % Change
2003 -3.6%
2002 13.0%
2001 13.6%
2000 3.8%
1999 20.7%

Recent Median Unit Prices

Period Median Price
February 2003 $ 428,986
January 2003 $ 431,000
December 2002 $ 515,000
November 2002 $ 560,000
October 2002 $ 503,500
September 2002 $ 580,000
August 2002 $ 561,000
July 2002 $ 620,000
June 2002 $ 516,250
May 2002 $ 431,775
April 2002 $ 455,000
March 2002 $ 600,500

No of Unit Sales

93 94 95 96 97 98 99 00 01 02 03
152 135 102 112 110 97 92 73 123 117 3

Other 3bd Units For Sale

Diamond Bay Road Vaucluse Price: From $680,000 - $700,000
Apartment 3 bedrooms 2 bathrooms
Immaculate and spacious 3 bedroom apartment in a well presented security building offers: 3 bedrooms (one with ensuite) two bathrooms, Brand new kitchen, poslished floor, separate dining and lounge area with ocean views, large balcony of the lounge room with ocean views, lock up garage. Situated on the second floor of well maintained building with swimming pool. Sizes: internal unit 105 m2 Balcony : 12 m2 Lock up Garag: 23 m2
http://www.domain.com.au/listing.aspx?mode=buy&id=2003816104

Not many around ... checked domain, propertypage and realestate

Asking price

$650K - 4% gross
 
Last edited:
Ben

Given you've done such a thorough job with this post, and you know all the things that make a bad RE Agent.

Maybe you should think of a career as a RE Agent!!

Though you did forget to mention that vaucluse is a waterfront suburb .....

see change
 
Just wondering why the price is only $650K, when they have a bank val of $720 from 6 months ago?

Are units oversold in this area and prices softening?

BUNDY
 
Beware of company title units in the suburb. There are a lot of them and some agents don't clearly emphasize the fact. Company title units would generally be 10-20% cheaper than similar strata title property.

Cheers,

Lotana
 
Currently the median sale price of houses in the area is $3,213,524. Just 3.2Million?

That would have to be rank right up there with of the most expensive residential RE in the world!!! I dont think there is a suburb in Tokyo even close to the same average price! What is the average of the most expensive residential area in London or NY, Paris or LA?
 
bundy - i dont know - why selling for $25K less that you bought it for 2 years ago as well

lotana - its strata title
 
Have you checked the Body Corporate minutes?

Maybe there is a huge special levy to be paid in the next year or so?
 
Perhaps there's some major expense coming shortly such as a complete repaint ( I'm guessing that it's about 8 y/o) and the Body Corp is a bit skinny on the bank balance.
 
Iam with the Body corp league. Have a careful check of the minutes but also try and talk to some of the residents, particularly any that are active on the body corp. I have also found it helpful to speak direct to the managing agent of the body corp.

The other point is, maybe the current owners simply over paid or its a softer market and they want to move it quickly.

Cheers
 
No body corp expenditures planned or req'd in the near future (its not 8yrs old check the first post)

Overpaid ? who knows - the comparables are there make up your own mind

Im not buying this (as said in the first post) - I just thought Id post it out of interest to see the response it would get (and I thought someone else might be interested)
 
Originally posted by always_learning
Currently the median sale price of houses in the area is $3,213,524. Just 3.2Million?

That would have to be rank right up there with of the most expensive residential RE in the world!!! I dont think there is a suburb in Tokyo even close to the same average price! What is the average of the most expensive residential area in London or NY, Paris or LA?
Click to expand...

Vaucluse would have to be in the top 3 most expensive suburbs in Australia, i wouldnt be surprised if it was No.1 or2.

I think its a great buy on the surface unless as posters have said there is a major BC expense coming up. Would be interesting to see how negotiable they are.

btw Ben...youre making me jealous with the RPDATA info.
 
Price is now neg as well (at least another 10K)

If you can arrange a bank loan on val its a nice no money down deal.

4% gross is pretty attractive for a waterview place in a blue chip K growth suburb like Vaucluse ...

Apparently bridging finance is involved hence the need to sell fast !

Anyhow if you are interested give me a PM and Ill pass on the agent details.

Hrmmm maybe I should reconsider .... (Im also sounding like an agent here :p)

Agent also asked me to pass the deal on to anyone who might be interested - can I forward date my original post :)
 
Dunno - Havent followed it up (Id only really be interested for a flick but its not suitable in this situation)

Did anyone follow it up ?
 
Well 2years later and the fact Ive got nothing to do so I was sorting files I came across the folder with this properties info in it.

It sold for $600K - Ill admit Ive been more interested in snow than property lately - anyone know whats its worth today (no resales have occured in the building)
 
XbenX - can I ask what service you used to obtain all the history/ info ? :eek:

This definitely helps when analyzing a property purchase.
 
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