New here. Inviting input of how to get optimal property outcome.

Hi All,

I am new to this forum. I bought a piece of land with 5 strata units of townhouses and villas in south west NSW. It is about Land is about 1300 sqm. It is 1.6 km to the local CBD. The units have not been renovated since I bought them two decades ago. Building is insured with a replacement value about $2.5 mil. Land sold in the area approx $2 mil for slightly lesser size. Average rent is $420 pw per unit. I hope to have a feedback from investors and valuers what would they do.

a) sell as it is (what is the best valuation method for this property to achieve best outcome for me? They are all strata titled and the buyer would not just own 5 airspace but also the land.

b) Refurbished and sell? What costings, returns and tax benefits would this scenario look like for me?

I would like to move on from this investment as I am in retirement mode. And the units are tired looking and in need of a facelift.

Any other thoughts is appreciated. Please be nice and helpful with your valued feedback. I am not as savvy in this game as many of you. Much appreciated.

 

I am retired. And don’t have deep pockets to do big renovations.