WA Post a Bargain - Perth 2018

I'm running my ruler over this: 38 Fleetwood Road, Lynwood, WA 6147

Loose the family room, new footings, new wall, remove the load bearing wall between the dining/lounge and you have yourself a modify and build.

 

H

Have you had much experience in lynwood/parkwood/ferndale? I've seen some semi decent houses on big blocks there but i've also heard people talk about them as one of 'those' suburbs. What have they got going for them? Cheers

 

This popped up in an ad. It's a bit over $430k West of freeway but a little north but still south of Joondalup R20/40 blockhttps://m.realestate.com.au/property-house-wa-heathridge-129826606

 

Nice house, wonder what its like living opposite a primary school?

 

Nice little pocket there. I pass it every weekend on my way to Bunnings.

Qualifies for multi dwellings as well with a 24m frontage.

 

Living near a school is fine a little noisey morning and afternoon. Plus side you can sometimes exercise your dog there non school hours

 

I'm not going to pretend to be an expert in this area, but I feel that Lynwood is a little different to Ferndale/Parkwood. The bulk of the supply in the area is from the R30 in Lynwood. I do like Parkwood as there is very little detractors for the area. The new shops (Coles) which has opened on High Road have been trading well - though this is not a huge position. I think there are better opportunities for holding long term, however I like to start from the bottom up when sourcing sites to develop. Provided that the location has no serious locality detractors, generally profitability is impacted by how well you buy.

 

Out of my budget and would offer asking price, but can do a lot with this i reckon. 108 Ardleigh Crescent, Hamersley, WA 6022

$500k would be a steal

 

Surely this is a bargain 732sqm, Reno kitchen, floors done, baths look ok

11 Allenswood Road Greenwood WA 6024 11 Allenswood Road, Greenwood, WA 6024

Sold for 445k

Unsure if any development potential@Westminster

 

On for 580.

That would be a fair chunk offered under asking price

Almost 15% under asking

 

"Mount Lawley, WA 6050
Residential Land
152 m²
Offers Above $500,000"

75A Harold Street, Mount Lawley, WA 6050

Is this realistic?

 

Nope. Nope and more nope.

It has some history which I have followed and you might find interesting as I follow all the local streets.

Aug '17 on market as full size block with existing house + WAPC conditional approval for rear @ $1.3m
Mid Aug '17 drops to "From $1.95m"
1 Nov '17 listing dropped
10 Nov '17 "From $898k" listing for just the front house (needs reno on 261sqm!!)
18th Jan '17 listing dropped. No price change at all. Firm on price evidently
18th Oct '18 "From $500k" for the newly created rear block

I own a site around the corner which is 130sqm bigger, higher zoning and bought at the peak of the 2014 boom. I paid $1.1m. So $1.3m is ludicrous to me. I split mine up into 6 small townhouses and rent out 5 and sold one.

 

I’m not sure about current zoning but it looks like possible future rezoning. There has been recent new unit sales of 3x2’s, 3 on one block for around the same price further down the street

 

That zoning has been in for a long time now.

 

This one might be a little easier to read

https://www.joondalup.wa.gov.au/wp-content/uploads/2018/09/10082-HOAPFC-A4-FAQ-v5-FINAL.pdf

 

Apparently it’s a revised one that I got in the mail a month ago. Is there any actual changes? The gave us a few days to oppose it

 

The zoning is in, now they're putting forward some design guidelines for development in split coded areas.

 

Plus it’s on the “rat run” short cut from Lord Street to Bulwer. Gets very busy at peak.

 

136 Central Avenue, Redcliffe, WA 6104

Not sure if its a 'bargain' but I do like the area as potential gentrification over the next 10-15 years.

 

close to the new train station too