Buyer Advocates In Melbourne: Blackburn North

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Property type: House with land
Purpose of purchase: Investment property with multi-unit development potential

Key purchasing criteria
  • 1

    Within 15km of Melbourne CBD

  • 2

    Good transport links to the city

  • 3

    Potential to subdivide block and build 3-4 townhouses

  • 4

    Rentable condition

  • 5

    Capital growth

  • 6

    Minimum 3 bedrooms

Client Outcome

Key attributes of selected property

  • Located 15km from Melbourne CBD – a key attribute for the purpose of capital growth for our investor client, our property investment advice is that historically inner and middle ring suburbs have a stronger rate of capital growth given they are closer to the city and amenity. This means a better return for our client in the long run.

  • Located 1.14km from Blackburn train station and 10m from bus stop – ease of access to these transport hubs are important as they make the property more desirable for renters/tenants

  • Corner block of 682sqm with potential to put 3 or 4 units – this is a key attribute as it allows our client to add value to the property and make a return for their investment sooner

  • 3 bedroom weatherboard house in rentable condition – this will save time and money for our client as it means they will be able to rent the property out straight away and not have to renovate

  • 100m to local shopping centre and Blackburn High School – our buyers advocates in Melbourne know that this is a good drawcard for families looking to be close to the school and amenity, this will help the property rent out more quickly

Successful Purchase

The search time for this client was 5 months. They had purchased with us before and wanted our buyer advocates in Melbourne to continue to grow their property investment portfolio. We had assessed 17 properties in different suburbs of Melbourne, we inspected 5 properties in Blackburn South and Burwood combined prior to purchasing the right property in Blackburn North. The selected property was purchased at auction using our tried and tested auction bidding techniques. We purchased the property $120,000 below the buyer’s budget for this investment. The purchaser has since experienced significant capital growth with this property and has gone on to buy another property through Luxton