How Much Value Does a Renovation Add to This Investment? | WHAT DO YOU THINK, CHRIS? | Ep 108

 

24/53-55 O’Brien St Bondi Beach

https://www.realestate.com.au/sold/property-apartment-nsw-bondi+beach-137703786

We purchased for client for $1.455m
Rented previously $650pw = 2.32%
With reno $800-$900pw pending summer/winter cycle = 2.9% – 3.2%

PROS
• Great potential to renovate and add immediate value
• Fantastic location just footsteps to shops, cafes, transport & beach
• Sundrenched combined living/dining flowing to balcony
• Two good-size bedrooms, both with built ins
• Clean and modern kitchen with adjacent laundry room
• Bathroom with separate bath and shower
• Top floor apartment at rear of block
• Lock up garage

CONS
• Low yield at $650pw so a renovation is required to maximise investment
• Top floor walk up so not suited to downsizers

 

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