South East Queensland has had fantastic growth especially the southern end of the Gold Coast. New restaurants, bars and coffee shops have made the suburbs of Burleigh Heads and Palm Beach on the Gold Coast hot property. The once poor relation to Surfers Paradise and Broadbeach has now come of age and is the “in” place to buy and invest in property.
Our client was looking for a dual income property that could obtain equity growth from the start, return great rental and of course, grow in value in the long term. Our searches found a fantastic duplex in Palm Beach QLDthat was 2 blocks for the beach but in need of a renovation to bring it up to market expectation for tenants. The duplex was purchased for $615,000 providing 2 x units that have 2 bedrooms, 1 x Bathroom and 1 x Garage space per unit. My Property Buyers Agent then managed the renovation on each unit totalling $35,000 combined allowing for each unit to be rented immediately for $405.00 per week per unit, that’s a massive weekly rental income of $810.00 per week. The duplex transformed from a dull 1960’s building into a modern well appointed property that tenants saw the immediate value in renting.
Estimate value now would be $825,000
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