26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $0.880m
David is a highly regarded barrister at the peak of his earnings. His accountant periodically advises him to purchase an investment property (we’ve purchased him multiple) for negative gearing purposes. He endorses our investment philosophy: purchase for capital appreciation with value-add potential down the track.
We brought him a few over the course of a month, and eventually recognised that he wants land and he doesn’t mind a ‘dump of a joint’.
This property had been on our radar for a while. They wanted close to $1m which was way too much, and it took COVID to scare the vendors into reality. We negotiated over the course of a couple weeks and ultimately paid just under market value.
David doesn’t have a mind towards developing now. He may never really. But, he appreciates the feasibility analyses we provide, and understands that properties with value-add potential tend to appreciate in value over time more than those without.
Whenever he pops into our Ivanhoe office, we know he’s looking for a block.
Affordable 10km of CBD; gentrifying; close to shops, transport, parklands
756m2 flat block, progressive zoning
Tired, original 2bed weatherboard
$0.880m
up to $0.950m
Private Sale, on market for 6+ months
3 months
$400 /week
2.4% gross
House $0.665m | Unit $0.580m
4.7% p.a. over last 10 years
Widespread gentrification; pretty tree-lined street; close to shops and transport; expensive neighbouring suburbs
Good value at bottom of cycle; works for negative gear and capital growth objectives
4 adjoining 2-3bed townhouses with single drive, affordable build
Holding, yet to progress planning and design
$2.600m turnkey completion
$3.080m if commenced
$0.480m if commenced
48% if commenced
19% if commenced
4.5% if commenced
$1.635m
$0.820m
$2.000m
$1.100m
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