51-53 Tyrrell Street, Sea Lake, VIC 3533
House
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Sold Price Not Disclosed (16 Jun 2019)
Positive Cashflow Investment 3BR House in Sea Lake VIC Partially Renovated - Still Needs Work
For sale is the house and land (number 51) and additional vacant block (number 53). Both blocks are the same size: 15.29m x 40.23m. Total land size is 1230m2.
The house next door is very similar and was rented for $145pw, so you are looking at a highly positive cashflow property. This property should fetch an even higher rent once renovations are finished. I started renovating the house but, due to personal reasons, I don't have time to finish it. Sale price leaves plenty of room for the buyer to spend on repairs and still end up with a favourable deal.
About a year ago, I had a new kitchen installed, new decking in the back which is completed, new decking in the front almost completed. New floor boards inside were started but less than half finished. There is a broken window and a floor board damaged in the main living room. The walls need painting, locks changed, splashback or paint in the kitchen, new shower glass or perspex or something, and it should be ready to live in. It has evaporative cooling, which should work but I haven't tested recently, a heater which should be replaced because it's missing control knobs. It also needs curtains. There are a lot of little things that could/should be fixed because it's an old house. Overall, a handyman should be able to get it to a livable stage in a couple of weeks.
The photos show some of the work that still needs to be done. They paint an accurate picture of the condition of the house, showing the worst of it.
Sea lake is a small town between Melbourne and Mildura with a hospital, pub, shops, school, churches, swimming pool, police station, and telephone exchange, mobile phone coverage. Everything required for a comfortable quiet lifestyle is there. Nearby is Green Lake, which is a tourist attraction and has recently been filled after being out of commission for years. Tourism has already started to pick up. There is also talk of recently discovered mineral deposits for mining.
Because of the travel time from Melbourne, I will arrange an inspection time only if I'm convinced there is at least one serious buyer. The price has been set for quick sale and takes into account ALL the things that need fixing.
Disclaimer:
Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.
The house next door is very similar and was rented for $145pw, so you are looking at a highly positive cashflow property. This property should fetch an even higher rent once renovations are finished. I started renovating the house but, due to personal reasons, I don't have time to finish it. Sale price leaves plenty of room for the buyer to spend on repairs and still end up with a favourable deal.
About a year ago, I had a new kitchen installed, new decking in the back which is completed, new decking in the front almost completed. New floor boards inside were started but less than half finished. There is a broken window and a floor board damaged in the main living room. The walls need painting, locks changed, splashback or paint in the kitchen, new shower glass or perspex or something, and it should be ready to live in. It has evaporative cooling, which should work but I haven't tested recently, a heater which should be replaced because it's missing control knobs. It also needs curtains. There are a lot of little things that could/should be fixed because it's an old house. Overall, a handyman should be able to get it to a livable stage in a couple of weeks.
The photos show some of the work that still needs to be done. They paint an accurate picture of the condition of the house, showing the worst of it.
Sea lake is a small town between Melbourne and Mildura with a hospital, pub, shops, school, churches, swimming pool, police station, and telephone exchange, mobile phone coverage. Everything required for a comfortable quiet lifestyle is there. Nearby is Green Lake, which is a tourist attraction and has recently been filled after being out of commission for years. Tourism has already started to pick up. There is also talk of recently discovered mineral deposits for mining.
Because of the travel time from Melbourne, I will arrange an inspection time only if I'm convinced there is at least one serious buyer. The price has been set for quick sale and takes into account ALL the things that need fixing.
Disclaimer:
Whilst every care has been taken to verify the accuracy of the details in this advertisement, For Sale By Owner (forsalebyowner.com.au Pty Ltd) cannot guarantee its correctness. Prospective buyers or tenants need to take such action as is necessary, to satisfy themselves of any pertinent matters.
Features
Renovated Kitchen, Rainwater Tank, Close to Schools, Close to Shops, Quiet Location
Due Diligence Checklist
Before you buy a home or vacant residential land, you should be aware of a range of issues that may affect that property and impose restrictions or obligations on you, if you buy it. Click Here to read more.
Briner & Associates provides residential conveyancing for Victoria. Please call (03) 9572 0255 or email briner_assoc@bigpond.com.
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