26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $1.385m
Adam is an overseas Aussie who is making good coin in a high-stress job. He’s building a portfolio the smart way – through small scale developments. We’ve bought him a few over the years, and enjoy a big night whenever he’s in town!
This was the first property we bought for Adam. He was in from overseas, and we drove him around a handful of areas we rate, walking him through the growth drivers and showing him completed developments. We landed on this area, and kept our eye out for a property that suited him.
I bought this via a highly competitive auction on my last bid. We would have liked to secure it for less, but the strength in demand showed that we were in the right area for strong future capital appreciation.
After purchasing it, Adam appointed his own design team and project managed the process while overseas. Things went OK apparently, though he has appointed us to look after his most recent project (partly because of the time needed, but mainly because of the expertise required to make the best commercial decisions).
He says very kind things about our service: “Most property advice I’ve tended to see tells you where a market is based on a quick search of recent sales as the analysis. Property Analytics sets themselves apart by developing real data driven analytics to tell you where a market is going to be rather than where it is, which is so much more valuable as a buyer or investor.”
High demand, close to hospitals, shops, transport, parks, schools
710m2 flat rectangular
Tired, original weatherboard
$1.385m
up to $1.4m
Bought At Auction
3 months
$600 /week
2.3% gross
House $1.095m | Unit $0.700m
10.5% p.a. over last 10 years
Increasingly affluent demographic; proximity to key amenities; top schools
Planning flexibility (Dual Occ. or 2 Townies); safe project profits; long-term growth prospects
Two semi-detached, double story, street-facing, 4bed/3bath houses, approx. 28 squares each
30 months from purchase to completion
$2.775m Turnkey
$3.300m completed and valued
$0.525m completed
58%
19%
4.5%
$1.635m
$0.820m
$2.000m
$1.100m
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