What about this property?

Hi guys, any Sunshine/Albion experts?
This property is Albion, and they want 335 for it.
http://www.realestate.com.au/property-house-vic-sunshine-114326571


It quite a bit worse than it looks on the pics, so I'm thinking in the region of 20K to renovate, including new kitchen, bathroom, painting, cleaning etc.

It's subdivided, so no backyard, though the front yard can be fenced to off to make a private space (about 360sqm land).

What do you think?
 
Pretty ordinary demographic IMO.
Not sure what you are trying to achieve with this property. Yield or CG?
Yield isn't going to be spectacular, plus the land size is quite small compared to other blocks in the immediate area.
If your looking to invest in the west you are probably better to spend that money on an older style 2 bedder in Yarraville if you can find anything..
 
I am looking for cg over the next few years (assisted by the renos). The idea is to live there until there enough equity to buy another

Unfortunately the yarraville boat has sailed for me - for my budget I'd be lucky to get a 1br apartment... and with a partner+child, not an option.
 
Haha
I was typing the above message, thinking 'I bet they'll dig that one up!' I haven't actually inspected it, but I haven't seen a deal like that in yv for a while - I'd love to know what it actually goes for. If its as nice as in the pics, there's no way it will go that cheap??
Sadly, my budget simply can't stretch past 350 at the moment, so :-(
 
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