Surrounding Environment: This property is located in a rapidly gentrifying suburb in a major regional center, 5 minutes from a major commercial hub, and 2km from the Train Station. It is in a great community area, with strong road and rail links, and close to major shopping precincts, private schools, and parks.
Economic Drivers: This property was purchased nearly $20,000 under market value, in a rapidly gentrifying neighbourhood which is experiencing high demand, for both owner occupiers and tenants. It was code assessable for an auxiliary unit which meant the buyer could build a granny flat on the property immediately, and maximise the returns for the first year. Buying under market value maximised the ability for the buyer to use additional cash reserves to fund the new granny flat development.
Who this would suit: Investors at any level