QLD Coorparoo Unit IP - Laundry located in garage

Discussion in 'Where to Buy' started by NewGuy88, 3rd Jun, 2019.

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  1. NewGuy88

    NewGuy88 Well-Known Member

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    Hi All,

    I'm considering the following Unit located at Coorparoo for an IP.

    5/23 Haig Street, Coorparoo, Qld 4151

    I went to 7 inspections around Coorparoo & Greenslopes earlier this month, 5 out of 7 had their laundry located in the garage.

    Most of the 70's & 80's smaller boutique Unit complexes do not have internal laundry.

    I'm seeking opinions on whether you believe this would be a major issue for prospective tenants?

    This Unit is 1 of 6 located on 2nd (top) floor.

    Any opinions on this particular Unit? Originally listed > $329K, now listed Early $300K

    Thanks in advance ...

    NewGuy88
     
    NewGuy88, 3rd Jun, 2019
    #1
  2. Cate Bell

    Cate Bell Well-Known Member

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    I like Coorparoo for houses. A quick search, looks this unit sold for $316,000 in November in 2008. Not sure what your investment strategy is, but if you can stretch a little more, up to 400K- 450K, I would be looking for a house in Moreton Bay/ Brisbane City Council/ Redlands if you want capital growth. Just my opinion.
     
    Cate Bell, 3rd Jun, 2019
    #2
    Peninsula Property likes this.
  3. Peninsula Property

    Peninsula Property Well-Known Member

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    After management fee's, body corp, water consumption (which is alot different in units) & Council rates...plus next to no capital appreciation for a decade... It's a dud.
     
    Peninsula Property, 4th Jun, 2019
    #3
  4. Peninsula Property

    Peninsula Property Well-Known Member

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    Peninsula Property, 4th Jun, 2019
    #4
  5. NewGuy88

    NewGuy88 Well-Known Member

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    Budget is limited to early $300K, but thanks for your input ...
     
    NewGuy88, 4th Jun, 2019
    #5
  6. NewGuy88

    NewGuy88 Well-Known Member

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    Thanks for your opinion ....
     
    NewGuy88, 4th Jun, 2019
    #6
    Peninsula Property likes this.
  7. Cate Bell

    Cate Bell Well-Known Member

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    I just bought a property (house on 620m2) in the early 300Ks in Thorneside but it needs a reno. and will rent in the early $400 per week. There are a few around. If you want return and capital growth, I would look for a house. You could look around the Redcliffe Peninsula, Zillmere, Bald Hills, Cleveland areas. IMO, cast a wide net (don't go near Ipswich or Logan). There are units in Coorparoo and inner city areas that are selling for less than they did 12 years ago, and there is just so much stock that tenants have a lot of choice, when newer units are built there is a mass exodus from the older units.
     
    Cate Bell, 4th Jun, 2019
    #7
    Propin likes this.