THE OTHERS

Food For
Thought

Here are properties we have sourced and are currently reviewing. 

19 Oakington Street, Torrensville

The Numbers

 

2 - Bedroom

1 - Bathroom

2 - Car space

 

Size

Internal - 106m2 (plus verandah and porch)

Land - 386m2

 

Orientation

Front: West

Rear: East

Sale Method

Private Treaty

Asking Price

$529K

Quick Valuation

TBC

Current Offers

TBC

Quick Rental Appraisal

~$430/wk

Distance to Public Transport

Bus Stop: 200m (3-min walk)

Distance to Shops

Henley Beach Road Shops: 200m (3-min walk)

Our Feedback

Tastefully renovated, spacious 2-bed Federation semi in pretty residential street with plenty of period homes. The property sits on a good, flat block set up for entertaining with a wooden deck and fire pit. It's also close to transport, shops and cafes and would rent comfortably within the quoted range, delivering a handy 4.2% yield. However, the main problem with this property is the dysfunctional floor plan configuration.
 
Specifically the only bathroom (and also the study) is at the rear of the house and only accessible via the kitchen. Reconfiguring this to provide a more user-friendly, functional layout would be a significant exercise.

4 Stevens Street, Croydon Park

Walk Score
Land
Property
Opportunity
OO Apppeal
Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

2 - Car space

 

Size

Internal - 113m2

Land - 448m2

 

Orientation

Front: North

Rear: South

Sale Method

Private Treaty

Asking Price

$510K - $540K

Vendors Motivation to Sell

Keen - need the funds for their home that they're building

Passed in at auction. $491K max bid

Quick Valuation

TBC

Current Offers

None

Renovation Allowance (Circa)

None

Quick Rental Appraisal

Current: $420/wk

Distance to Train Station

Kilkenny Railway Station: 2.6km

(33min walk)

Bus Stop: 180m (2min walk)

Our Feedback

Corner block home with a sense of character that is amplified by the sandstone frontage on the home. Originally a red brick 1950's home, they have brought back the charm with the sandstone features. The front yard is large and enclosed which is perfect for tenants with pets and kids. Likewise, the rear yard is enclosed and part concrete (undercover) and part grass (exposed). Internally the home presents really well and the tenants come across as being really clean and tidy. They look after the home really well and the lease is in place until October. They are paying $390/wk and have expressed an interest to stay on. Our quick appraisal sees the rent value at $420/wk.
 
Some really nice original features in the home and some modern updates, so the house is a little eclectic, but still presents really well with plenty of natural light. Gas cooking in the kitchen and a smartly updated bathroom mean the two big ticket items tick the boxes from a buy and lease perspective. Given the age and structure, there was no noticeable signs of cracking or movement.
 
There is three bedrooms, all of which don't have any robes. The master feels like it would be the only one that could accommodate a robe, whereas the other two rooms are small in proportion. The smaller rooms also back onto the entertaining zone which is not desirable.
 
Surrounding homes are mostly low rise brick homes, without much character. There is also noticeable small developments in the area (villa's not townhouses), which is generally something we are not keen on.
 
All in all a nice home, but a few too many functional concerns to move past it.

47 Main Street, Beverley

Walk Score
Land
Property
Opportunity
OO Apppeal
Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

2 - Car space

 

Size

Internal - 120m2

Land - 403m2

 

Orientation

Front: North

Rear: South

Sale Method

Private Treaty

Asking Price

$489K - $499K

Quick Valuation

TBC

Current Offers

Offers under ask and one party in negotiations, but want a settlement in 2020

Renovation Allowance (Circa)

None

Quick Rental Appraisal

Current: $420/wk

Distance to Train Station

West Croydon Railway Station: 1km

(14 min walk)

Our Feedback

On a quiet pretty street, this home is set on the corner of Main and Watson St. Character homes aplenty in really close proximity, but also in close proximity is industrial zones. Given it's only 1km to the closest train and shops, with three schools in close proximity, the location is central. The home itself has been fully renovated recently and no one has lived in the home since. Renovation was polished, but not high spec by any means. However, it presents well and will lease without too much trouble in the quoted range. There is a lack of green space in the rear, with the front green zone being the largest space. However, it is not fenced in, presenting some concerns for security and privacy if you had young children and pets.
 
The property has been on the market since May, with the key sticking point being $500k +. Much more momentum now in a reasonable price bracket.

53 Hayward Avenue, Torrensville

Walk Score
Land
Property
Opportunity
OO Apppeal
Overall

The Numbers

 

3 - Bedroom

1 - Bathroom

2 - Car space

 

Size

Internal - 113m2

Land - 365m2

 

Orientation

Front: East

Rear: West

Sale Method

Auction (September 28)

Asking Price

No price guide given by agent

Vendors Motivation to Sell

Keen

Willing to sell prior to auction

Yes

Valuation

Logical: $540,000 - $555,000 Emotional: $555,000 - $565,000 Target: $540,000 - $565,000

Current Offers

None

Renovation Allowance (Circa)

None

Quick Rental Appraisal

$450/wk (53A, the property to the rear, was leased for $450/wk in 2016. 53 would be considered superior) 

Distance to Train Station

Mile end Railway Station: 2.8km

(35min walk)

Bus Stop: 450m (6min walk)

Our Feedback

We love this home. Immediately from the street, you get a great sense of home when standing back and taking it all in. You quickly forget that it is a battleaxe block, however, most importantly, it's the front property of the battleaxe.  The home feels grand and full of character, and you immediately don't recognise that the land size is 365m2. You are greeted on entry by a security gate at the driveway, which can only be opened using a touch pin pad. There is a video screen here which can be viewed and accessed in the kitchen. When you walk through the gates, the front gardens are well manicured and present really nicely. The facade o