THE VAULT OCEAN VIEW UNIT MAKES $100K IN 12 MONTHS
This unit was purchased for just $275,000 in the Central Coast of NSW. Now, just one year later, comparable sales in the area are upwards of $370,000.
PURCHASED IN MID 2016
Binvested usually doesn’t purchase properties in this suburb. Blue Bay prices are normally too high to make them work as foundation properties.
On this occasion, however, we were able to strike a deal for a low entry price – and it was only about 12 months ago.
OCEAN VIEWS AND FUTURE POTENTIAL
In a small complex of six units – some of which have ocean views, this unit is located in a prime position for developers. In fact, this suburb has already seen many of these older properties knocked down in favour of high-rises.
In future, it is possible that the owners in this apartment block may be offered a good deal from a developer.
STRONG RENTAL RETURN
In the meantime, the property brings home $330 each week in rent – a nice return for low purchase price.
Have you purchased a good foundation property on the NSW Central Coast? Please share your experiences in the comments section below.