Here’s an example “Add-Value” property that I recently purchased for an investor client:
Kardinya 3×1 corner block with subdivision approval
Great value house that simply needed paint, carpet & flooring, blinds, bathroom vanity and gardening. Purchased with conditional subdivision approval in a superb location.
Purchase price: $535,000
Appraised value: $560,000
Median house price of Kardinya: $660,000
Rent return: $350 per week (in original condition)
Land size: 784sqm
Distance to shops: 800m
Distance to Murdoch University: 2.5km
Distance to the train: 4km
Distance from Perth CBD: 14km
This style of property would be more suited for investors wanting higher growth, with slightly lower rent returns. Basic cosmetic renovations were done to boost the rental value and appeal of the property.