This amazing property was purchased in South Australia for Brisbane based clients. Their existing properties were purchased in South East Queensland and given the movement in prices; they considered purchasing interstate.
There were 63 groups through the property with 20 odd offers. Our clients backed themselves and we went in strong to secure the property for $502,000 (after a $15,000 reduction based on the building & pest report).
Our clients would be able to develop this property in the future (subject to council approval).
It’s a 3 bed, 1 bath and 2 car spaces’ property on a 660sqm block. It’s located around 27 minutes’ drive from Adelaide CBD. The market rent is $480 per week.
✅ $502,000 purchase price
✅ 4.97% rental yield
✅ 0.3% vacancy rate
✅ 660sqm block
✅ 25km to the CBD
✅ Strategy: Capital Growth
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