WA Perth. Post a Bargain 2021

I don't get how they got 13, are they all classed as SBD?

 

128 Wanneroo Road, Yokine, WA 6060 https://www.realestate.com.au/property-house-wa-yokine-135555986

This is interesting, 3 properties on one title. maybe for buy, reno amd rent out

 

About 8% yield and on a busy road but.

 

where did you get the 8% from
Looks like a good price (no idea how much they have underquoted though)
Another triplex potential property sold last week for mid 8s only a few streets away. Though being on Wanneroo Rd im not too sure. If it was R40 would be potentially good for unit developments

 

https://www.realestate.com.au/property-house-wa-ashfield-135563274
Looks like a bargain but this agency has severely underquoted other properties in the past so no idea if they would accept 395k on the spot

 

I’m sure they would!

 

Divide the annual rent income (3 houses) by how much the property cost to buy. I calculated $400 a week for each property = $ 4800 a month x 12 = $57600 per annum. The property sells for $699,000. Divide the rental amount by the cost of the property and then x 100. I was wrong too, well picked up. It is 8.3%. Not just a pretty face..

 

Not too bad if you got it for that price and spent $100k on it. If a PPOR , you would have to severely check the neighborhood out and flight paths.

 

According to the rental history, it seems like $200 a week for each property?

Property Report for 2/128 Wanneroo Road, Yokine WA 6060
Property Report for 3/128 Wanneroo Road, Yokine WA 6060

 

Who pays $200 a week now for a house in Perth or even a 1 bed unit for that matter? Let me know and I will move in myself and save $200 a week.

 

$175 and $200 was in 2017 recent rate to rent was not disclosed

 

This is a history from oldlistings.com.au, so 3/128 Wanneroo Road, Yokine WA was rented for $230 in Oct 2020.

• October 2020 $230 pw
• August 2016 $200 pw

WANNEROO (RD|ROAD) Yokine Rent Real Estate Old Listings

 

A lot of old figures being thrown up, I cant work out why. So a smart customer would ring up the REA and ask what rent he /she could get right now, not what rent it got 3 years ago or even last year. Or even smarter, look up RE .com and see what the average rents are for Yokine. There were 2 at $280 a week and 7 at minimum $350 a week right now. Even at $350 per week, the gross yield is 7.3%

 

theres no information on the properties

699 is quiet cheap for the land in the area (Waneroo rd is the only reason why it wouldn't be worth this much in land val)

Im going to assume the houses are rubbish condition and are being rented quiet cheap

There are 1 bedders for $200 around the CBD (not exactly in but within 5ks). $250 gets something nice while ive even seen a few in east perth for $300 with all the resort facilities

 

I know the agents and area well. The price they are wanting is $375-380k.possibly cheaper then land value, free house. It’s not a bad street. There can occasionally be undesirables hanging around the park opposite the shops, but far away enough from this hone. Flight path isn’t too bad, get used to the planes although it’s not nearly as bad as Guildford. I drove through suburb a week ago, lots of knock downs, extensions and rebuilds going on. This would be an ex state housing home that has been privately owned for many years by the looks. Brick veneer. The kitchens are tiny and room sizes smaller then the privately built homes in the 60’s. With a cheap kitchen revamp you could achieve $370 -$380/wk. or quite liveable for owner occupier, great size block to build a nicer home as your family grows. Great size block. Walk to shops, nice parks down Pearson Street and river if you are keen.

 

Multi dwelling (apartment), not group dwelling - theres no limit on number of dwellings with multi dwelling > r40 - There are other restrictions

 

ahhh, thanks, I get it now. I've got a low density R20 block 10sqm bigger, it blows my mind a bit to see what could be built with R40! Neighbours directly opposite me talked the council into rezoning their huge block to R40, I've given up trying to convince council for a higher zoning. I think mine may actually be worth more selling as vacant blocks rather than building, I haven't decided yet. Mine is in a different council.

 

The way the Perth market is going we will have to change heading...... bargains...... wont be any

I heard today stock down to 7000? If this is true This is boom territory 2007

 

Already under offer