Here’s an example “Add-Value” property that I recently purchased for an investor client:
Hillarys 3×2 house with subdivision potential zoned R20/60, opposite a lush park
Great value house in a superb location opposite a large park and brisk walk to major shopping centre. The high zoning of R20/60 allows for multiple development opportunities, however the client wanted to keep it simple and preferred to split the block into 2 street-front properties in the future.
Purchase price: $560,000
Appraised value: $620,000
Median house price of Hillarys: $820,000
Rent return: $430 per week (in current condition)
Land size: 683sqm
Distance to shops: 700m
Distance to St Marks College: 1km
Distance to the beach: 2.2km
Distance to Hillarys Boat Harbour: 4.5km
Distance from Perth CBD: 23km
This style of property would be more suited for investors wanting higher growth, with reasonable rent returns.
