Property Location: Randwick, Sydney
Renovation Details
Our client was looking for a small renovation project in a high demand area.
They wanted a project they could turn over in a short space of time, so they could roll the profits into another project.
We located an Off Market opportunity on the beachside end of Randwick.
We negotiated our client preferential price and also terms, that would allow them to minimise the down time before settlement, and allow them to hit the ground running.
Works included:
- New kitchen and bathroom
- Remove wall between kitchen to create open plan
- New cabinetry
- New floors
- New lighting
- New blinds
Purchase Price - $845,500
Renovation Cost - $90,000
Sale Result - $1,160,000
Rental return before renovation - $580pw
Rental return after renovation - $900pw