WA Post a Bargain - Perth 2019

Not at all. That is a good pocket. Check out sales prices around the park.

47b Weston Street, Carlisle, WA 6101

 

Probably combination of both. The first one started too high then got stale and then baaaarrrgggain. The new one is very unlikely to sell in mid 300s if buyers are aware that last one sold for 270k as it's not like the new listing is renovated etc

So the bargain will hamper the sale of the new one but I also think that it's probably a bit too high anyway

 

@Westminster Thank you for getting back to me. I managed to drive past and had a look around and it does appear to have significant slope.

 

95 - 97 Oswald Street, Innaloo, WA 6018

possible bargain as both duplexes are currently tenanted.

Opportunity to develop into 5 storey apartment.

What do you think Perth people.

@Westminster @MTR @Aaron Sice @Perthguy @thatbum @sanj @Damo93 and others

 

Pass. Its a pretty awkward location for that sort of development - and its something only within reach for some of the most cashed up of apartment/mixed use developers.

The duplex pair on the land is almost irrelevant because of the highest and best use.

 

would you live in a 5 storey apartment block in Innaloo or buy an older front strata?

 

Handy if you like Ikea meatballs.
Their claim that area is going to become Perth's second CBD is laughable but it's not a terrible location.
I don't think it needs more apartments at this stage. Then again I couldn't comprehend why there is a Quest hotel/serviced apartments across the road either.
Depending on price it could be a good buy but I think whoever looks at it should thinking about all scenarios for it from 3 houses, 4 or 5 townhouses, mixture of single bedroom dwellings and townhouses
I would be double checking anything in that advert too

 

Here's my bargain pick of the month.

213 Shepperton Road, East Victoria Park, WA 6101

It was for sale with another agent and had progressively become cheaper and cheaper and was down the $350k at their last listing price.

The new REA didn't list a price but I have to assume that someone has this under offer in the low to mid 300s. I was going to go to the home open that was scheduled for Sunday but it went under offer on Saturday and the home open was cancelled.

So yes it's a crappy tiny house on a very busy road so why did I like it? Because it had land content, because it's very close to the city for the price, because it's the same price as a villa, because I had a crazy idea that maybe I could have the existing house approved as a Single Bedroom Dwelling and build a full sized house with the remaining land. And one day the zoning will probably be higher (maybe)

I was trying to convince our eldest it would be a great first IP

 

177 Whatley Crescent, Bayswater, WA 6053

Not bad if you have the stomach and holding costs for it.

I was told more details of the re zoning comes out early June from the wapc.

 

At those densities buying with the hope of flipping is unlikely going to work as the zoning is priced in. Better off finding R40/60 blocks near Bayswater station where one can actually afford to develop.

 

To get the 6 storeys you need 1500m2 minimum so there needs to be amalgamation somewhere, which could present an opportunity.

To build up to 4 storeys which it may be ok to do without the 1500m2 I would have thought thats decent buying depending on how many apartments you could get on it, I'm assuming a minimum of 20 ?

 

Hello all,
Back in Perth after 3 years in the Netherlands. Thinking about buying another property as an IP.
I saw this one in Wembley which to me seems like a good location and value. Would love to hear your thoughts!

205 Harborne Street Wembley WA 6014 205 Harborne Street, Wembley, WA 6014

 

I live near here. The only thing I'll say location wise is that street is an absolute nightmare during morning and arvo peak times. Luckily it has a rear laneway, but that being said you can still expect gridlock traffic there most days. There's a school about 100m away so you will have that traffic also.

 

Wow, that is A LOT of house and LAND for the money I would say. I dont follow Wembley, I live in Floreat but dont follow the local markets as they are out of my reach in regards to buying but to me for 700k that seems good value for a PPOR. IP wise you would probably only get $600pw unless you did the "rent off singular rooms" strategy

 

If you're looking to develop, I found this pearler.

6x three-storey townhouses and basement parking very likely.

~1mil each.

1 - 3 Gwenyfred Road, Kensington, WA 6151

 

This one looked good... under offer in under a week at "from 499"

14 Fitzroy Road Rivervale WA 6103 14 Fitzroy Road, Rivervale, WA 6103

 

Looked at this today, as expected too good to be true, house needs flattened, i’d be embarrassed to try to rent this out as is let alone live in to renovate. Maybe good if you have the cash to demolish and build.

 

1/17 Baldwin Street, Como, WA 6152

1 of 4 units on 1090m2 of land in Como.

Seems like a decent deal to me - is it?

 

If you can get the other 3 for a similar price... Maybe.

 

That's the type of thing that ticks a lot of boxes for me. Low number of units, high land content, built in an era that possibly built it like a tank and potentially low strata.

Check all the usual things for apartments - sinking levy, financial status of fees, AGM minutes etc. Do get a building and pest as concrete cancer and water proofing issues might be a concern. I've checked the ownership records and the owners of Unit 3 and 4 do have the same surname so if related might work together to get their own way in matters of Body Corporate. Just something to be aware of.