Renovation, what would you do with this.....

https://www.google.com/url?sa=t&sou...FjABegQIBRAB&usg=AOvVaw1oSNpqUXaUlkFJGZGwFuFn
13 Tully street Geelong East......
So, from an investors perspective, what would you do with the above property (after purchase) ?
It has been neglected for decades
Likely a FULL RENO REQD (stumps and up ! )
Am thinking more floor plan options currently

I agree that it is a LONG WAY from being cash flow positive
Positively not something that @euro73 would invest in (in the Geelong area)
Maybe @David Shih would have an opinion ?
I have previously lived @ 7&9, and knew the last owner for a long time
Lovely quiet street, and am a believer in retaining the facade/street character .
Also know the number 11 will be listed in the $700's soon (though he is dreaming )

 

Open the kitchen into the living room and possibly extra pantry storage in the laundry. By making the laundry smaller and doing something with that back section to make the bathroom/laundry more functional. You could reconfigure the bathroom so the vanity goes under the window and pop a robe from the back bedroom into that bathroom space.

Good side fences at the front!

 

A really interesting one I have to say...not sure how the floor plan was designed initially when bathroom is all the way to the back and only access is through kitchen & laundry. Hmm

Very limited in terms of what you can do with this floor plan really. I was also thinking along the line of what Angel has suggested - make it a bit more open plan with the kitchen. But the rest can hardly being improved without reducing the bedroom number.

If I have money I would probably consider buying at land value (gotta love the location!) if at all possible, knock down and rebuild to a more contemporary house with better floor plan.

Cheers,
David

 

Gee it would come up nicely if renovated well!

Obviously this takes time and money.

It would depend on the end value but a quick makeover and rent out is a good option.

 

I love old Victorian houses like this, renovating them is a challenge but rewarding.

So the back 4 rooms are an obvious extension at some point, totally impractical and probably not well built. I would knock this out and start again (hopefully with approval for a larger footprint) with a large open plan space with kitchen (bifold/stackers out to a deck). In the existing part of the house I would make the right side of the living a 3rd bedroom, and left awkward left side a bathroom that services the bedrooms, and another laundry/bathroom that opens out to your living space.

 

It's under offer?

I'd have to demolish the rear 4 rooms too like @Meristone said to get the flow back and then start again and create something that joins to a garage off the rear laneway.

All that would cost $$$

 

Facade looks much better now

 

As per your suggestion looks better also

 

Looks great so far! Waiting for more photos of the other parts of the house. Did you knock off the old annex and redo the back section?