(Double blocks/ Multiple lots)
1.) WEBSITE CATEGORY
Double blocks / multiple lots
Vendor just wanted land sold without doing work to make 4 lots.
Net profit $350-
Purchase price $470,000 May 2020
174-182 Vaughan Springs rd, Yapeen Vic , purchased as 2 contracts :5 lots $235,000 4 lots $235,000
Total 9 lots, constrained access was why vendor sold in 2 parcels. Easier for the Vendor to sell off this way, rather than do some minor works to create 4 lots. Minor works ( Crossover, Fencing, LCA soil report, surveying) $40,000 costs.
Double blocks/ Multiple High demand area lots
Crossover constructed creating legal access to 2 lots, (Cost $12,000)
Power pits already in place
LCA soil reports
Summary: Double block/multiple lots website category finds these property deals.”key to making this deal successful”.
- High demand region of Victoria, low supply of land for sale.
- No Council planning overlays, zoned township, services to all lots.
- The vendor is happy to sell as 2 lots.
- Creative thinking allowed us to fully utilise the true value of the land.
- Our Purchase was completed the same day the property was listed for sale at the full asking price.
- Due diligence/homework on comparable land sales in the area.
- Knowing the re-sell values of each lot.
- Understanding planning and building requirements.