26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $1.410m
On a quiet street and with a north-facing rear, this flat, rectangular 450m2 block is located in an increasingly affluent city-fringe suburb.
It is very rare to find a project that promises a 19% Return on Cost in 16 months without need for a planning permit. Simply appoint an architect, lock in a builder, and commence construction when the purchase settles in 120 days.
Why is this possible? Because it is likely to sell well under true market value because of a mismatch between the on-the-ground site conditions and what is legally included on Title. It looks like the house shares a driveway with the next door property, but there is no easement on Title. The vast majority of buyers will assume a shared drive will need to be included in new build plans but that’s not the case.
It’s within walking distance to shops, cafes, transport, and parks. There is widespread precedent for new modern houses selling for $3m – $4m.
This is a low risk project with safe profits and a quick turnaround. We do not currently have a buyer client under Authority for this type of purchase, meaning we are bringing this opportunity to our database and to our social media community.
This property goes to auction this coming Saturday, December 2nd. Don’t wait – contact us immediately if you want to purchase! It will sell under the hammer as the vendors are highly motivated.
Melbourne’s Inner North
flat, rectangular, 450m2
uninhabitable weatherboard with northern yard
$1.410m
low-mid $1.5m
Auction
up to 120 days
n.a. uninhabitable
n.a. uninhabitable
$1.653m
7.8% p.a. over last 10 years
city fringe, gentrifying, walk to everything, secondary school zone
Below market value, low-risk development profits, quick turnaround
Single Home / Site
16 months
$2.640m
$3.250m
$0.490m
45%
19%
3.9%
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