26 Seddon St, Ivanhoe VIC 307926 Seddon St, Ivanhoe VIC 3079Price: $1.850m
An amazing buy for a trusted, decisive client
Harvey is a big earner, at the top of his career. He’s accumulating a portfolio of negatively geared investment properties with big capital growth and development potential.
This is the 4th property we’ve bought Harvey this year. The process has been fine-tuned over time… we know he likes big blocks in residential zones; he’s motivated by the bargain, and any property we suggest needs to come with a comprehensive analyses of market values; he wants safe townhouse projects with strong profitability, but won’t commence them for another 10+ years; and, we are authorised to liaise directly with his mortgage broker and architect to confirm numbers and scope.
An agent brought this off-market to me. The vendor was a young beneficiary from a deceased estate who was nervous about auctions, and was open to selling prior to advertising at circa $1.85m.
I quickly ran some comparative analyses, and touched base with a couple local agents I know and trust. Everything pointed to value $2.2m – $2.4m. Absolute bargain buy. And, the feasibility confirmed strong profits for a 3 townhouse development.
I rang Harvey on Friday, told him I had a ripper to inspect on Saturday, and I’d send him all info afterwards. Through careful negotiation, we secured the property for $1.85m within a few days, without competition from other buyers (we were simply too quick to act).
This ranks as one of my best ever purchases. We’ve built a high level of trust and working efficiency with Harvey and his team, and this paid off big time.
Blue chip, affluent, close to hospitals, transport, shops and parks
Flat, rectangular 1100m2 block without vegetation
Original but tidy 3bed 1bath, easy to rent
$1.850m
$2.2m+ easy
Off-Market
2 months
$700 per week
2.0% gross
House $1.758m | Unit $0.754m
5.1% p.a. over last 10 years
Highly affluent suburb popular with professional families; established activity centre; proximity to hospitals, schools, transport, shops
Exceptional bargain price; strong and safe development profits; top capital appreciation prospects
3 large, quality, detached townhouses back-to-back
30 months from purchase to build completion
$4.484m turnkey completion
$5.385m
$0.900m
48%
20%
4.4%
$1.635m
$0.820m
$2.000m
$1.100m
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