We Purchased a Property on “Company Title” for a Client | WHAT DO YOU THINK, CHRIS? | Ep 110

  • 2 years ago

2/31 Fairfax Rd Bellevue Hill

We purchased for client for $2.65m
Rent appraisal $1400-$1500pw = 2.7% – 2.9%

PROS
• Elegant Art Deco spanning 143sqm
• Formal entry foyer
• Tightly held block of only 4 apartments
• Oversized living room with feature fireplace
• Separate formal dining room
• Contemporary style kitchen
• 3 double bedrooms, 3 bathrooms
• Charming character features throughout, high ceilings, polished timber floors, internal laundry
• Short walk to Double Bay, waterfront parks & ferries

CONS
• Company title property so buyer needed company approval to be able to settle (which she did receive)
• There is a perception that company title is less valuable than strata title as there can be restrictions on renovations, if you can buy it and if you can lease it out. Upswing if gets changed to strata

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