As I gradually melt like a thick slice of smoked camembert cheese on a piece of lightly toasted sourdough. I continue to search the market. Looking for the best property investments I can find. I came across this little beauty a few days ago and thought it worthy.

Price Range

This would be a pick in the $1m-$1.5m range. I think it’s a property with huge potential at 85 Station St, Newtown.

It’s going to auction with a price guide of $1m-$1.07m.

I think the agents are a little conservative with the price guide figures. Probably in the range of 30%+/- under where it will end up. In my opinion it will likely sell nearer to the $1.4m range.

Layout

The layout of the property somewhat reminds me of 31 Oxford St which sold for $1.525m in November 2016. Except for the second bedroom on level two.

31 Oxford St Floorplan 31 Oxford St Floorplan

Station St Newtown Floorplan 85 Station St Newtown Floorplan

This property currently has 2 beds, 1 bath, 1 car space.

It is sitting on 139m2 of quality Newtown land.

Investment Potential

Personally I would see if you could get approval to go up another level. If you can, there’s a chance this property may go above the $1.5m range.

Even if you can’t go up, the property has to be totally renovated or re-built.

Station St Kitchen

Parking

The parking spot takes up about 25% of the garden at the back, which has both positives and negatives. In my opinion more a positive than a negative for having a parking spot. Particularly in the local Newtown area. Parking spots are incredibly valuable due to their scarcity in the suburb. But a small negative as it takes away some of the precious garden. The garden and parking spot are a golden gem with this property if correctly designed.

Have a great day!

Dean Berman

Update 23/02/2017: The property sold for $1.272m. This price places the property between where the agents priced the property at and my prediction.