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How much this 3 levels 6 Apartments cost?

Discussion in 'Development' started by fumid, 24th Mar, 2016.

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  1. fumid

    fumid Well-Known Member

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    How much you think this cost?
    1/110 Akonna St Wynnum Qld 4178 - Apartment for Sale #120697645 - realestate.com.au

    110 Akonna Street Wynnum Qld 4178,
    sold $820,000, 26-Sep-13
    810 sqm LMR zoning on two lots with Spectacular Bay Views.

    6 * 3/2/2 apartments

    This Bays Vue apartment is 40% bigger than standard apartments and has a massive 68m2 Large North East Deck, 7.5m x 4.5m + 1.8m x 5m to Master bedroom.

    They asked $975k for No.1 3/2/2, so assume the whole building they selling around 6 millions?



    How much you think the total development fees will be?
     

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  2. Scott No Mates

    Scott No Mates Well-Known Member

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  3. fumid

    fumid Well-Known Member

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    I want to know how much to build this 6 apartments?
     
  4. Aaron Sice

    Aaron Sice Well-Known Member

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    so easy to realistically cost with a nice simple Sketchup 3D.....gimme 20 minutes and I'll have a ballpark.....














    !?
     
  5. fumid

    fumid Well-Known Member

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  6. chindonly

    chindonly Well-Known Member

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    Sarcasm button required
     
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  7. Cactus

    Cactus Well-Known Member

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    My guess

    $4.5M to develop
    $820k to buy
    $780k profit at $6m rev
     
  8. fumid

    fumid Well-Known Member

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    if 3 levels, 6 *3/2/2 unit cost 4.5M to develop, one 3/2/2 unit coast 750K only for develop, not including land cost.
    In Brisbane, I don't think it can sell $820k, I would say 500k, that means lost 1.5M plus land coast...
     
  9. fumid

    fumid Well-Known Member

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    The price they sell
    Unit 1, $975k
    Unit 2, $950k
    The higher can be little bit higher,
    so they may try to sell 6 million (also need to pay commission to agent)
    If cost $4.5M+0.82M, they seems don't have profit?
     
  10. Cactus

    Cactus Well-Known Member

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    As I said, guess.