Brisbane - investment property $750-950k

Hi everyone,
I am from Melbourne and looking for an investment property in Brisbane around $750-950k which has high rental return and potential development (min 800m2). I am watching Carini but any recommendations of good suburbs? thank you so much.

 

Hi Anna, to get started with that is a good budget.
You can achieve better rental yields if you go around Ferny Grove, Arana Hills and surrounding suburbs. For example we purchased a 3 bed 1 bath for $485k and it's renting for $480 per week on over 1000m2.
If rental yields are not a driving factor I would consider suburbs within 6km of the Brisbane CBD.
The main thing you want to look out for is location location. Within each suburb there are expensive pockets. The goal would be to purchase a older solid home within these pockets.
This gives you the ability to later on down the track either renovate or knockdown for a profit.
If you by in the right spot/area you can defiantly compound your capital growth.
The budget also will get you a splitter site/subdivide property you can hold a either sell to a developer in the future or develop yourself. This will also compound the capital growth.

 

with that budget maybe Camp Hill? Carina Heights also, Carina certainly find property within that budget. Public Trustee taking a Carina Heights property to auction soon, so that might be worth watching. It is hard to get a read on 4152 postcode, sometimes it looks very good, but i think area near Whites Hill nice, and area closer to creek road not so good. Just a personal opinion. Carina i think is fine, and certainly will benefit from improved transport (metro?) in time.

 

https://www.realestate.com.au/property-QPT-qld-camp-hill-134796638

 

Replying to my own post here. The property above sold at auction for $895K. Quite a lot of interest. Can't who the lucky person was, a very relaxed young man bought it - perhaps buying for someone else? Or just a really calm guy i dunno/.

If i had just dropped $895K i would have have been less relaxed.

really fun auction to watch.

 

What’s so special about Camp Hill. That’s one ugly house for that price?

 

Ha!

The block is well zoned. The house is 'original', so ugly is fair point.

I was happy to see the price so high, I am wondering if we are in a boom? (Vested interest)

Valuation of the block is $520k (published valuation), but that is clearly not the market opinion as the house is basic.

 

Can it be subdivided? The house behind had, so that’s probably the case... but Camp Hill and other nearby suburbs are priced high!

 

The house behind was two lots, valued at $810K (published valuation of land). So i think some development is possible, subdivison may not be the answer. Low density development? Not sure how many you can fit on a 739m block of Low Medium Residential zoning. Maybe someone wanted to buy it, land bank through the inevitable 4152 postcode boom (showing my colours here a little). If i had spent 895K just getting it, i wouldn't have the courage to dump another $?M for townhouses. Where would be the profit?

Aren't townhouses on the nose in Qld?

 

I agree. For that price or a little more I thought we can get 810 sqm in Greenslopes, Annerley a few months back and put two houses on them?

Ah well, I guess FOMO has kicked in.

 

Boom!

 

If i had a spare 750k i would buy this. Camp Hill address. I would just do a quick flood check beforehand.

15 Daphne Street, Camp Hill, Qld 4152 - House for Sale - realestate.com.au

 

Thank you The first one was nice, I missed it. It will need to be comestic renovated to be rent out. I would subdivide in future, I agree Camp Hill is a good one; but looks like the shape of land of no.15 does not look nice.

 

Yes, the shape is unusual, i suppose the land size plus the front road access made me think it has some potential. The first one went for a VERY hi number so i mid 7's seems cheap for this one. Provided it doesn't flood of course.