QLD Brisbane IP help - what and where?

I saw this property got sold the other day. It sold for $1,351,000.00. It's on a 1120 sqm lot. The house as it is looks quite good and very livable.

93 Gordon St, Gordon Park QLD

The opportunities for this property would be the potential subdivision as follows:

• Move the house sideways to the right hand side in line with the pool.
• Subdivide and free up the left hand block - the result being 2 x 560 sqm blocks, or keep the house on a 715 sqm block, and make a 450 sqm lot.
• Sell the new lot, or build a house on the new lot and sell house and land.
• The existing house could be improved with say a carport out the front, lifted up / built under to make a 4 or 5 bedroom house.
• Just sell the house as-is on its own lot plus the new lot.

There's a few possibilities there, the numbers would need to stack-up, but this is the kind of opportunity that exists in Brisbane if you got the $1.2m or so to spend. (There are of course, cheaper areas, but this is just an example). To realize say a $150K profit from a development deal, would need to sell the house for about $1m, sell the land for $700K, allowing $100K for subdivision costs, plus upto $100K for holding / in-out costs / some tidy-up. At this point in time, the sale price of the property was quite significant, and whilst development could achieve a profit, possibly best to buy and hold a little and do a bit later when there's some further momentum in the market.

 

Many options! I would suggest a house in Paddington or New Farm for that budget. 1.2 now will easily be 1.5 in 2 years from now. With that money though why not buy 2 houses Gold Coast and make a massive profit in two years, perhaps selling and taking the gain on one and keeping the other long term.

 

Pity I didn't see this a few months back. For 900K I would've sold my DA approved splitter in Coorparoo.

 

Where abouts in gold coast?