The project was completed in 2014 and ended with an equity result of $70,058 after the project management fee.
The 2 villas are leased for $400 per week each:
Total rental return (in 2014): $760 per week or $39,520 pa
Gross Yield: 6.5%
The land for this development was purchased in February 2013. The purchase price was $210,000. This property was carefully chosen for the client by Property Bloom™ for development for two main reasons:
- The land was large enough for a freestanding dual occupancy development.
- The location. The land is situated in a new land estate within walking distance to a major shopping centre. This location is highly sought after due to its proximity to shopping, transport and the best private school in this city.
Internal living area of the three bedroom, two bathroom villas: 130sqm
|Total Project Cost, including land, DA, CC, build cost and subdivision:||$672,218|
Final Valuations in 2013: