Congratulations to David and Sara who just settled on this great property located on the central Gold Coast last week.
Purchased: April 2019
Client: Interstate Investor
Location: Central Gold Coast
Original Advertised Price: Offers over $849,000
Clients Budget: $850,000
Our Purchase Price: $778,000
The Client: Based interstate, they are planning on putting tenants in for a few years Based interstate, they are planning on putting tenants in for a few years while they work out what their next move is.
Ideal for their family of 5 with 4 bedrooms and a study, 3 bathrooms, a media room and two living areas with a pool, all on 842m2, there is heaps of room for everyone if they decide to move in themselves. They might just decide to keep it as an investment in the long term with a 5.7% gross return and good capital growth potential.
The Property: Requiring some updating and a tidy up before tenants move in, the buyers plan on spending $15,000 approx to give it a once over and we will manage the project for them, keeping them updated every step of the way.
Rental properties of this size are well sort after by tenants in this area and it will rent at $850pw easily.
Whatever they decide, this property stood out for a number of reasons:
- north facing
- no rear neighbour
- great configuration and layout for a family
- good scope to add value
- size > it was very difficult to find a property of this size, in this price bracket
- location! family friendly suburb with good parks, schools and great facilities for the kids nearby...
Client Savings: While everything else around it was selling at the $900,000+ mark, we picked this up at $778,000 after it sat on the market for months as it was initially overpriced by the agent and the market dropped away in the later part of 2018. Many buyers overlooked its potential and the price kept dropping and dropping to a level well below market value as the seller just had to get out in the end with a job transfer in place.
Congratulations David and Sara - it was great working with you. Can't wait to welcome you all to the Gold Coast!
The seller has a trained negotiator and property professional in their side. Just like David and Sara, why shouldn’t you??
We've saved them money - and made them some money along the way too.
Find out more about our property buying services and how you can work with me here
At Eureka Buyers Agents, We find. We negotiate. You save.