Well, Melbourne CBD has certainly done a turnaround

agree - when you say this reminds me of the early days when I used to do these refurbishments and API asked me to feature. But still have to change with the times. Apartment market was the never a boom or growth product - but you just have to think outside the square sometimes. I still believe in my humble opinion a 2 bedroom apartment if correctly chosen can beat a house in SEQ in terms of CG and rental return using this method although I am no longer in this game atm.

 

I am not too sure about adding a bedroom strategy would still work in current market though. It might have worked last decade because apartment prices are still low and adding extra bedroom would increase the yield significantly. But current market, i have noticed buyers look at the overall size more than yield. Some agents even suggesting removing a small bedroom and converting a 2 bedder into a spacious 1 bedder with open living because these type of stocks are so rare.

For example, a spacious open one bedroom with 70sqm would do better than a crowded two bedder with same size. People would actually pay a premium (e.g. 500k - 600k) to get the bigger 1 bedder than a standard 2 bedder ($500k+). Same if it's a spacious 2 bedder vs a 3 bedder with same size.

I think you just have to pick something bigger than the standard size.

 

Apartment prices are still low some places are still the same as before 10 years ago
I don’t think so @ATANG There are a 120sqm bedrooms which can be a 3 bed 2 bath as opposed to a 2 bed 1 bath. Current apartments selling 90sqm. Besides j am no longer playing this game but if u willing to bet with me that I can still do it? 10k come on small change for someone like u

 

This is exactly my situation. Mine is just under 70sqm, and EVERY single agent that looks at it says...why not carve up the living room into another bedroom. To me it makes no sense. The whole appeal of my apartment is the huge proportions...once you carve it up, it's a regular dog box. No, no, no.

(the 3.7m high ceilings you see in the photo actually make the place look smaller than it is, that living room actually is really spacious in person!)

 

Carving up a 1 bedroom as 70sqm is not a good idea but carving up 100-120sqm bedroom when other places are 90sqm apartment 3 bedders is really straight forwrad

Either way a 2 bed 1 bath 100sqm apartment will be significantly less than 3 bed 2 bath 100sqm apartment. Well each to their own done this enough times already in the past and never bought a apartment below 95sqm

70-80sqm is a different realm

 

Good point I agree.

With mine, every time an agent tells me to carve up that beautiful living room I roll my eyes so hard. Yuck.

 

Yours look more Art Deco more value in refurbishing it 3.7 meter ceilings is rare super bonus

Done one off Queen rd back in the day was pretty good

 

Can you still find a 2 bedder with 120sqm? Even if there are, i think todays market would have priced it close to a 3 bedder price, making it not so worth to do subdivision. I think the pricing has been more on space rather than number of bedrooms these days.

 

There are if u look ard again no different to the residential growth zone where ppl complain numbers don’t stack up. If it was so easy everyone on streets would me making coin

As u said not worth my time too doing this stuff since more involved in other stuff

End of the day an old 2 bedroom 1 bath will be less than a 3 bed 2 bath

Are u telling me an extra bathroom does not add to the value of property ?

70sqm places are so many ard it is the 90-100sqm ones anyway what do I know yeah after visiting hundreds of apartments over the years

In btw did u see the acz threads u shud get 98-100 double block big uptake

 

Aik, can never finish buying la, need to enjoy life also. lol

 

U rich fella why worry ask TT from Asia deposit hahaha

 

- Glossy dark timber floor
- Full glossy white paint on ceiling and walls
- New scroll able window blind and double glazing

 

Man I'm definitely going to do wooden floors. It'll look lovely Timber is just the best!

 

It has yet to fully materialise in the western end. A lot of restaurants and cafes in the western end (legal district) are still closed on weekends. It will change soon though.