4 Bedroom Property
Secured by Kensington Buyers Agent
Property Details
Buyer’s Scenario
The client was looking to add another property to their portfolio. Their brief was to locate a character property on a large level parcel of land in an established and sought after area.
It needed to be structurally sound, but have the opportunity to add value with a quick cosmetic upgrade to increase the yield. The long term plan was to develop the block to create multiple dwellings to increase the value and yield substantially.
Buyers Agent’s Solution
A 4 bed single level bungalow was located and purchased for the client. It was in original condition, and on a level 550m2 block. It also has a rear studio which was an unexpected bonus. A cosmetic renovation was completed on the property on behalf of the client, while also adding another bathroom in the old laundry. This created a neutrally geared property. Further DA approvals have been obtained to convert the rear studios into a self-contained 2 bed apartment.
Buyer’s Comments
“From initial consult to now, we couldn’t have asked for more from Frank Russo. He was able to secure us the ideal property, the whole renovation was project managed in a very professional manner also. The project came in sooner than we anticipated, and right on budget. The advice on adding value was just what we needed. The property able to be rented immediately and now pays for itself. We have now created enough equity to invest again. Frank followed through with everything he said he would. We are very satisfied with the whole experience”
Michael
Home Buyer / Property Owner