Contact Us 0418 293 575

Success Stories

3 Villa Development

1
2
3
4
5
6

Equity Created:

 

The project ended with a net equity result of $97,296 after the project management fee.

Total equity created for clients $118,448.

 

Rental Returns

 

The 3 villas have been leased for:

$235 per week for villa 1
$220 per week for villas 2 & 3

Total rental return (in 2006): $675 per week or $35,100 pa

 

Gross Yield: 6.1%

 

The land for this development was purchased for $175,000 in 2005. This property was carefully chosen for clients by Property Bloom™ for two main reasons:

  • The 736sqm land was DA Approved to build 3 villas and approved pre-Basix requirements.
  • The location. In established, popular suburb, close to the local primary and high schools. Within 2.7km to CBD with open park land close by with bus stop about 10m from front door.

Internal Living area of villa 1 – 3 bedrooms: 95.13 sqm
Internal Living area of villa 2 – 2 bedrooms: 92.95 sqm
Internal Living area of villa 3 – 2 bedrooms: 85.92 sqm
 

Project Costs:

Purchase price for DA approved 736.26sqm land: $175,000
Set up costs $8,695
Cost to construct Triplex: $356,362
Items handled directly by PM to save: $26,204
Strata Subdivision: $3,606
Total Costs $569,867

Final Valuations in 2006:

Villa 1: $245,000
Villa 2: $230,000
Villa 3: $230,000
Total: $705,000

 

Get our Free Newsletter and Development Site Alerts.

Don't worry we'll keep your details private. The only thing we share is our knowledge.

Enter your email address below: