Property Location: Balmain
Renovation Details
Our client was looking for a character terrace, in a location that has a high demand from homebuyers for a quality renovated product.
This rare find in Balmain fit the brief perfectly as it provided plenty of scope for adding value, close to the CBD and amenities.
We leveraged our relationships to negotiate and secure the property within budget, away from other keen buyers to avoid a competitive bidding war.
Our clients obtained approval to extend from a 2 bedroom, 1 bathroom original terrace and create a 3 bedroom plus study, 2 bathroom modern home. The rear lane access was utilised to create valuable off-street parking.
Works Included:
- Extend Rear to create open plan kitchen, flowing to rear courtyard
- Create an extra bedroom and study
- Create extra bathroom on first floor
- All new finishes
- Create off street parking in rear courtyard
- Landscape gardens
Purchase price – $1,420,000
Renovation cost – $350,000
Market value after renovation – $1,950,000 to $2,000,000
Rental return before renovation – $500 per week
Rental return after renovation – $1150per week
Buyer's Comments
"Frank Russo was a pleasure to work with!
He truly understood our needs and what we were looking for and persisted until he got the best outcome for us.
It was a smooth and enjoyable process from beginning to end and he took all the hard work out of searching and buying a home. Also Frank is very knowledgeable on all suburbs in Sydney which is bonus when your search criteria is rather large.
I will definitely be working with Frank again when we need to look for our next home!"
Jenny
Renovator Buyer
