location26 Seddon St, Ivanhoe VIC 3079

Off-Market Long Settlement

Price: $0.830m

An incredible buy in an area that will boom

Sam is a successful financial advisor who wanted to build a property portfolio the smartest way – through small scale development.

I rate this suburb highly for future capital appreciation and it fit his parameters perfectly. We reached out to a handful of local agents and this off-market was an absolute stand out. The vendor was asking $850k. A near-identical property on the same street 8 doors up was selling EOI later in the week, and I knew firsthand that it would sell for at least $100k more (it ended up selling for $0.960m).

We completed a full project feasibility, and confirmed key assumptions with a good town planner and architect we know well. Sam liked it, and loved the terms we negotiated – $0.830m on a 12 month settlement.

Immediately after purchase, Sam appointed us to secure planning permits for 3 semi-detached townhouses per our feasibility study. Council issued the permit. Sam is sitting on it and intends to build for long-term retention.

He had nice things to say about our service: “Andrew has proven himself as extremely professional, reliable and acts with the highest integrity. We engaged Andrew after meeting him through a web seminar and could not be happier with the insights and project management capability that he brings. Recommend to anyone looking to make their next move in property.”

Explore Details Across Property, Investment, and Development Tabs
  • Property
  • Investment
  • Development
Property
Location

Good improving infrastructure, amenities and demographics; progressive planning zone

Block

Slightly sloping 697m2 rectangular block

Dwelling

Neglected and uninhabitable weatherboard

Purchase Price

$0.830m

Market Value

up to $0.960m

Sale Method

Off-market

Settlement

12 months

Investment
Rental Income

Uninhabitable N/A

Rental Yield

Uninhabitable N/A

Suburb Median $ Prices

House $0.750m | Unit $0.598m

Suburb Capital Growth

5.5% p.a. over last 10 years

Growth Drivers

Good improving infrastructure, amenities and demographics; widespread gentrification

Why we rate it

Well below market value; long settlement; safe planning; great growth prospects

Development
Development Scope

3 semi-detached townhouses

Project Duration

17 months from purchase to permit

Project Costs

$2.270m complete

Project End Value

$2.700m complete

Project Profit

$0.425m complete

Return on Cash

44% complete

Return on Capital

19% complete

End Rental Yield

4.1% gross

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