QLD Evaluating a Brisbane,Redcliffe duplex

Hi Guys

Just curious what would be disadvantages of buying something like this from an investment perspective.
47 Sportsground St, Redcliffe, Qld 4020

Thanks in advance
Cheers

 

Asking price seems reasonable. I'd like to know why you call it a duplex?

Ps. If you really want to buy it, I wouldn't post it on the forum. But if you are using this listing for example purposes only, that fine.

 

From an investment POV, I would be running away.


When you can buy a house 20km closer to the cbd for the same price and on a larger land lot, for me that signifies no value in Redcliff and much higher overall risk . See rough example below .

132 Samsonvale Road, Strathpine, Qld 4500




Also:

 

This house is the worst, lease popular type. That is the "poor" section of Redcliffe - do you notice all the hardiplank houses crammed close together whereas the rest of the region has larger blocks of land with houses spread out. No one wants to live in them. They are terribly hot inside.

 

That kitchen looks horrible. No fan, no ventilation.

 

I have actually talked to the agent regarding that house. The blocks in that street are all very thin and the previous tenants didn’t leave the house in a good condition. I didn’t inspect that house as it didn’t appeal to me.

Redcliffe is a good area though and close to the beach. The job market in Queensland is no longer just in Brisbane. Stats show the employment is heading away from the cbd and into other regions - Ipswich, Moreton Bay, Sunshine Coast etc.

Lots of cafes, infrastructure, development and employment is going to make Redcliffe a good potential place for captital growth. You don’t get the beach 1lm away in Strathpine either and it’s only about 6kms closer to the city. The university in Petrie will also mean many students no longer need to travel to Brisbane.


I mean in Melbourne Hampton park is 28lms to the city and about 10kms from the beach. Frankston south is 34kms from the Melbourne cbd. No one in Melbourne would choose Hampton park over Frankston south. The beach is where it’s at.

Redcliffe will be a winner, but not this house. No real potential in it imo

 

Right suburb, wrong kind of property ..

Go for some with reasonable land size with future potential if investing in these burbs imo!.

Cheers,

 

Thanks alot for your suggestion.
Since i would be doing investing interstate,I wonder if i can do the subdivision thing.

 

You don't have to subdivide but if you planning to hold onto it for long term, it opens opportunities for developers keen and bigger the land component the more the CG ..

 

Thank you, everyone.
That was very helpful. I appreciate it.

 

Are you just going to post infinite properties and ask for opinions? You dont seem to be looking for anything specific. A good deal isnt specific.

 

I will reduce the opinions.But trying to learn what kind of property would be ideal for investment.
for eg build type in this case.I get your point.

 

There is no such thing as an ideal investment. It depends on your resources, borrowing capacity, skills, experience, risk profile, etc. All youll do is randomly throw out a hundred different types of properties, but you dont have you own opinions. At least narrow it down to one part of one city, and a property type.

 

The house shown above is a terrible example of a property that anyone would want to live in.

This location on the Redcliffe Peninsula is as far way from the water as you can get. Just about any other street would be closer to the beach. It is in the general vicinity of streets that flood, but this can be easily checked online.

The house itself is made of the most unpopular material - hardiplank - the cheapest available in that building era. The roofline is the lowest possible height - no insulation, no ventilation, and just awful to reside in. I can bet the room sizes are tiny. I bet there is no insulation in the walls either. Dont think you can demolish it and build a million $ mansion. The folks wanting to spend a million dollars on a PPOR will not want to live THERE.

For future capital gains, Ms Gockie's house would suffice. Is it currently for sale? The yield is low but you will have future growth guaranteed being so close to the beach.

 

I think mine's a different budget to what the OP's price range is. Mine's a 250m stroll to water, water views from street, level land, 607sqm block, 15m wide land, not 10m, the extra half block width makes the place feel so much more comfortable. Streets filled with 10m wide blocks and these houses squeezed onto the land just don't feel so nice.

As they say, if you are going to invest in the area, you want to stay "East of Oxley".

Right on the water is where the multimillion dollar houses are.

 

Budget is so important. Just because someone else in a different town and at a different time made a killing from low-budget properties, does not mean that he can waltz into an eastern capital city and buy another great deal for that same price point. Why isn't he looking in Perth at that price point?

 

Even the east of Oxley rule people seem to use in this area will change. Soon anyone living in this area east of Oxley will be looking at the back of high rise apartments imo anyway. I do agree with the rule for Redcliffe that close to the water is great, but I’d be staying away from buying on the busy roads like Anzac, Oxley and Victoria.

You can find some good buys 400-430k in the area with 5% yields. I’d never pay the asking advertised price either. I recently paid 20k below

 

And so... a lot of the area is zoned. Near the water you find Next Gen and Urban zoning. People can build very high on these blocks. So... mine was bought with that in mind. Nice to own something that has the potential to be high density . Also my street has water views; the view at the end of the street isn’t obstructed by buildings. Just a direct view to the water. That was another reason for choosing this street.

 

Hi Gockie

Did you buy through a BA.
Just curious how you managed an interstate BUY

Regards

 

Excellent post. The bedrooms are TINY - 2.7x3m for two of them, and the master is only 3.1x3.1! Construction materials are cheap - Hardiplank and aluminium windows. Also it’s only on 405 and doesn’t seem to have car access to the rear of the block.

There are worse areas in Redcliffe - and this spot north of Klingner Rd is not as rough as the corresponding area south of Klingner Rd where the public housing is - but the street does have a ‘little boxes crammed next to each other’ feel.

I like Redcliffe but not this particular one.