Investment Property Fred Pham Cres Doolandella was purchased for an investor in Western Australia. This is the fourth property I have purchased on this street. These homes in Fred Pham Crescent Doolandella were all built between 10 to 12 years ago by a builder called Ausbuild, one of Queensland’s finest builders.
Overview
All these homes follow my strict investment property guidelines:
- Within 20 kilometres 0f the Brisbane CBD
- Brick and Tile Construction
- 4 Bedroom 2 Bathroom with double lock up garage
- Land size in excess of 400m2.
- High rental demand
- Cash Flow Positive
- Strong Capital Growth
This property meets all the requirements of an Investment property. I have been watching properties like this sell for up to $650K but the market has been slowing and this property has some very minor issues that will put most other buyers off. These are the types of properties I target as the market pressure has been reduced by the condition of the property. But the issues are very minor, needs new carpet and it needs paint. A total spend of no more than $7000 will make this property look like new again and will attract very good tenants.
The Location
As I mentioned previously in this post, this is the fourth property in Fred Pham Cres Doolandella I have purchased for clients looking to invest in the Brisbane property market. There are not too many places in Australia where you can purchase a 4 Bedroom 2 Bathroom Double Lock Up Garage property on 500m2 of land within 20 kilometres of any Major Capital City for around $600K these days.
The Tenants
Whilst this location produces strong capital growth and cash flow positive returns, they also attract long term tenants. of the 3 current homes I have purchased in Fred Pham Cres Doolandella, all 3 have long term tenancy agreements of 3 years. the tenants also seem to take ownership of these properties and keep them very well presented, they are always clean and the gardens are always maintained.
Returns
A year ago this property would have been valued at $520,000 and has grown by $100,000 in 12 months. With the Brisbane property market predicted to continue to grow for the next 5 years and high market pressure on properties like this, the property will continue to grow in value.
The rental return for this property will be around $480 per week which equals a return of 4.02%. UPDATE – This property has now been rented out less than one week after settlement for $480 per week.
