VIC Frankston

Discussion in 'Where to Buy' started by bbmick, 18th Jun, 2015.

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  1. Natedog

    Natedog Well-Known Member

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    Well done! You are sitting on big chunk of equity with that size portfolio, and the rents would be filling the bank account nicely I'm guessing :)
     
  2. GoneFishing

    GoneFishing Well-Known Member

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    Wow, wow, wow!

    This 2 bedroom dump sold on Saturday at auction for $791K! 52 Bayview Road, Frankston, Vic 3199 - Property Details

    I purchased literally around the corner in 2009 for $345K and I am on a corner block, so it has to be worth at least $800k if the above sold for $791K.

    Unbelievable! My rental return has been $350 p/w for a few years now and the tenant has been great, so it has been an awesome investment. Damn it, should have bought a few more here!

    That was my last IP I had purchased, but have been putting money away for a development as Land Tax is killing me!
     
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  3. rook2017

    rook2017 Well-Known Member

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    52 Bayview Road, Frankston, Vic 3199 - Property Details - That's a great sell. Gee, I have a house in FHSZ on a larger block...770m2. Should I consider selling?
     
  4. Natedog

    Natedog Well-Known Member

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    It's nuts isn't it! I bought into the FHSZ area on 740sqm for pretty much $300k less in 2015...we got lucky with timing I think!
     
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  5. Scyth

    Scyth Active Member

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    Hard to find opportunities like these anymore for new players , pretty much non existent now.
     
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  6. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    The long term invertors are starting in to rake in the benefits of frankston. Someone said to me keep holding expected to go even more. But just dunno how much more really tbh....
     
  7. rook2017

    rook2017 Well-Known Member

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    Another one sold, wow

    upload_2017-4-29_18-28-15.png
     
  8. Ian87

    Ian87 Well-Known Member

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    This is about 1km away from mine and I couldn't believe that price. Most blocks like that seem to be going around 600 give or take 50k. Was thinking either someone has lost the plot when bidding or there is more to it. Great for us though.
     
  9. rook2017

    rook2017 Well-Known Member

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    I was not at the auction, but heard that it was very surprising for everyone involved, reportedly a family bought to build a new house. More of such purchases and the land will become more scarce in the are - which is a good thing long-term for those sitting on land 'banks'.
    BTW, another house on a steeper block, same size on the same road did not pass on the w/end, now for sale for 710K.
    There are more houses for sale in that area now. Hopefully they will get good sell figures.
     
  10. Natedog

    Natedog Well-Known Member

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  11. rook2017

    rook2017 Well-Known Member

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  12. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Central frankston going nuts. 6 stanley st sold 752k!!!!!! And Oaklands cres 646k
     
  13. rook2017

    rook2017 Well-Known Member

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    Good news, I'm still surprised 14 Margate still not sold...in FHSZ for 630-670 with over 800M2.
     
  14. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    does anyone know sold price of 204 skye rd frankston???????
     
  15. Btaylor

    Btaylor Well-Known Member

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    bought PPOR in frankston at the end of 2015 and just sold it. 36.6% increase in 18 months. I'm pretty happy with that :)
     
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  16. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Where was it????
     
  17. rook2017

    rook2017 Well-Known Member

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    So, why did you sell? Was it a decent block of land and where - location? My IP went up 44% up (conservative estimate) over the two years and I'm still holding it, even if it flattens next year. Large blocks are becoming a rare find (I mean sub-dividable areas of Frankston, especially in FHSZ).
     
  18. Btaylor

    Btaylor Well-Known Member

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    It wasn't a sub dividable lot. No potential for further development but very nice house. It was a PPOR and my partner and I have decided to build a new PPOR in Somerville. Build will be commencing later this year. I'm going to hold some cash in loan splits ready to swoop on a bargain (or two!) if they come up in the next couple of years.
     
  19. Btaylor

    Btaylor Well-Known Member

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    House is in Karingal btw. Not in the Frankston High School Zone.
     
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  20. rook2017

    rook2017 Well-Known Member

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    That's pretty good then. Well done. Somerville is a nice area and sometimes overlooked...
     
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