QLD Mount Gravatt East

@gman65 yeah will be interesting to see what it sells for, but my gut says they will get it close.

 

I think that captures it well mate. But really its not so important if the numbers make sense for the person who developed it. If making the place nicer would cost them on profit and not add any then I can understand that. I tried to find the price they paid for the place but it wasnt showing.

 

I stand somewhat corrected. I have not been following this aspect of the market with even a smidgeon of interest

 

Nice to know that worst case, I can bulldoze my home, build a big arse home on its 607m2, and still make a tasty profit. Actually, if they pay too much more, it's not worth developing over a new build!

 

I searched rp data for 75 Eyre and it was showing $0 purchase price. In the event this is a likely subdivision I searched for 77 Eyre (and with twice the land size at 810 sq m) in 2002 was sold for $368,000. No. 73 Eyre was 405 sq m already so I dare say the subdivision probably took place at 77 Eyre. and new build was undertaken.

77 Eyre Street Mount Gravatt East, QLD, 4122

• 810m2
• Update Data

Last Sale Details

• Sale Price: $368,000
• Sale Date: 16 Sep 2002
• Settlement Date: 16 Oct 2002
• Sale Type: Normal Sale
• Sold By: Cr

• Land Use 1: Single Unit Dwelling
• Land Use 2: Section 17 Applies (secondary Use Only)
• Zoning: Residential A

 

@Player that makes sense mate. There seems to be a decent profit in there. Will be interesting to see what it actually sells for.

 

The price of the land, but I didnt think to do what @Player did and look next door! Stupid me.

 

I'm surprised really

 

I was in a hurry to go out, but im not gonna make excuses Still stupid me.

 

Nope..

Look at the PD Online map. Many in that area are two lots on one title. Makes it easier to split probably into two titles, as it looks like was done for lot 273 and 275..

It is to the left of 73 Eyre - sold for $873k in Mar-2015.. Sold Price for 73 Eyre St Mount Gravatt East Qld 4122

You can see *just* see a trade ute on the LHS in the photos for the above on what looks like the construction of 75 Eyre.

Here is what 73 used to look like (note the house on the right is still there):

Sold Price for 73 Eyre Street Mount Gravatt East Qld 4122

and Onthehouse.com.au: Your Home for Property Research

73 history is:

sold $873,000 - 29 JAN 2015 Source: Government
Sold $620,000 -
30 JAN 2014 Source: Government
Sold $67,500
18 JUL 1990 Source: Government

So house/block bought for $620k, knockdown.. total final value: ~$1.823M

Somebody might want to fill in some estimates for the build cost, but looks like a tidy profit to be had.. old house didn't even look too bad.

 

@gman65 based on those figures, if the build cost for both was 800k (but I think less) then the return on total costs roughly might be 28%, or roughly 400K. Not bad.

 

I think a lot of that area was state housing and offered to occupant to buy around 1990.

 

Went for a walk because bored... First open.

28 Crewe Street Mount Gravatt East Qld 4122 - House for Sale #121798290 - realestate.com.au

Would have been 10-15 groups through in 20 mins or so I was there. Looked mostly like oo's. Nicely presented place. 3rd bedroom looked more like a 2.5 to me, but anyway. Should sell fairly quickly.

Finger in the air says should fetch 700-800k and may not get to auction - will see in a few weeks. Still hot out there!

 

@gman65 I'm gonna take a stab and say 730k.

Anyone else care to make a prediction and we'll see who gets closest.

 

The front = yuck (that colour should be banned, along with bright red, blue or green for that matter - you see the units in Sydney where they line them up and use all these colours - vomit)

ironically, I find the rest just fine, even the look from the rear, if I showed the boss this, all the furniture and bit's and piece's would find a place there and be very comfortable. Were easy please I suppose.

The only problem then is the location and the $$$ you can buy much nicer overlooking Manly for less.

 

I'll say $725k .. last sold 18 months ago for $581k. $552k in 2010. Timing is everything!

 

I'm gonna go a bit lower and say 700k.

 

@gman65 = $725k
@York = $700k
@Leo2413 =$730k
@Tyler Durden =$650k
@Bran =$650k

Any more bets in folks? Its for this property: 28 Crewe Street Mount Gravatt East Qld 4122 - House for Sale #121798290 - realestate.com.au

 

Put me down for $650k