Property Investment and Buyers Agents Blog

23-02-2017 – Best Property Investments – Randwick

Today we will jump a few price points over $2m, like our Olympic champion Sally Pearson does to hurdles. An interesting property at 35 Oswald St Randwick. It offers many options, like a well trained comedian. From a renovation to addition and or potential redevelopment.

Oswald St Randwick35 Oswald St

Price Range

The last property to sell in Oswald St with decent land size was in 2015. 18 Oswald St sold for $2.865m on 500m2. Before that 33 Oswald St sold for $2.425m on 413m2 in the same year.

Oswald St KitchenOswald St Kitchen

The price guide for this property is between $2.1m-$2.3m. It’s a tricky one to price due to the potential. However, if I were to make a bet, I would guess it will land up nearer to $2.45m.

Since August last year there has been approximately 20 property sales in Randwick with land over 400m2. The estimated median price from all these 20 properties is around $3.35m. One of the lowest sale prices was 59 St Marks St at $1.885m. It had no parking. Another interesting sale was 50 Oberon St at $2.3m. This property has 3 garages, but also needs a renovation like 35 Oswald St.

Oberon St RandwickOberon St

Marks St RandwickMarks St

Layout

The property has 417m2 of prime land.

There is a huge amount of potential from the layout i.e. potentially building s.t.c.a.

Oswald St GardenOswald St Garden

Investment Potential

The property needs a renovation which would add significant value.

Being only 1.4km walk to Coogee beach this property is in a superb location.

In my opinion if the renovation / potential redevelopment was done to at least a medium level finish this property could easily be worth well above $3m++.

Parking

Unlike many Eastern Suburbs properties, this property has a lockup garage, which adds tremendous value.

All in all a property with superb potential.

Have a nice day!

Dean Berman

Update 07/03/2017: The property landed up at $2.8m.

18-02-2017 – Buying Property At Auctions – Upper North Shore

Today I’m attending two auctions in the Upper North Shore.

It’s a day of potential knockdown and re-builds.

The first auction is in Hornsby. I’m predicting this property will sell around $1.2m.

The second property is in Gordon. The guide price is just over $1m. I’m predicting this property will sell for around $1.55m.

I will elaborate in more detail about the properties and auctions later today.

An overview of the auctions:

The first property at 31 Nursery St, Hornsby was very interesting.

31 Nursery St Hornsby

It’s a total knockdown in my opinion. The land at the back has a big slope. You would need to undertake alot of excavation or have a very clever home design.

The auction had about 30 people there.

Auction One Hornsby

There were 3 serious buyers.

The auction started at $1m. Gradually went up to $1.1m. Then $1.2m. From $1.2m the price gradually crept at times of $500 increments, $1,000 increments, back to $5,000 increments. Eventually landing up at $1.29m.

The second property was at 82 Ridge St, Gordon.

82 Ridge Rd Gordon

As soon as I entered this property I knew my earlier prediction would be well out.

There must’ve been about 100 people at the auction.

Auction Two Gordon

The reserve was apparently $1.1m. Which is probably why!

The property is another total knockdown in my opinion.

The buyer will likely knock it down. Then build a granny flat on the back with the side access.

The auction was quick and too the point. Like a 100m final with one Usain Bolt. Moving from $1m with pace through to $1.7m then gradually to $1.8m and finishing at $1.81m.

All in all an interesting day of auctions.

Dean Berman

16-02-2017 – Best Property Investments – Chermside

What a ripper of a day! I came across this newly listed property at 15 Ashley Rd, Chermside West. I think it’s a property with fantastic investment potential.

Ashley St Chermside FacadeAshley St Facade

This property is like a young Mark Waugh. Superb with the bat. Great with the ball. Classy in the field. An all rounder. Very liveable. Great spaces with much potential.

Layout

The property is a double storey with 260m2 of internal space.

A decent size on 1,015m2 of Chermsodian land with 3 bedrooms, 2 bathrooms and 2 car spaces.

Ash Chermside InteriorAshley St Interior

The property has a formal living area, formal dining area, casual dining room, kitchen, laundry, rumpus room, storage closet, split system air-conditioning and workshop.

Comparable

The most comparable property I found was at 14 Sommerville Place which sold for $780k in November 2016.

Ashley St Chermside FloorplanAshley St Floorplan
Sommerville Pl Chermside FloorplanSommerville Pl Floorplan
Sommerville Pl Chermside FacadeSommerville Pl Facade
Sommerville Pl Chermside InteriorSommerville Pl Interior

Land size is a little larger on 1,121m2.

Property is singe storey with modern interiors. In many ways comparable to 15 Ashley Rd.

Pricing

The guide price is $750k+. I think around this figure is realistic for something of this size.

Investment Potential

It has a smashing frontage over 25m2.

Ash Chermside GardenAshley St Garden

Decent rental returns of upwards of $650+ per week.

Only 13km to Brisbane CBD.

The irony with this property is it’s not Junior. It’s more like a Senior. Stephen!

Have a great day!


Dean Berman