All Topics / The Treasure Chest / Purchase of a Shop and two units – Advice Required

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  • Profile photo of BeachboyBeachboy
    Participant
    @beachboy
    Join Date: 2003
    Post Count: 6
    July 16, 2003 - 12:00 pm

    Hello All,

    I am looking to buy a shop with two units behind in the Chelsea (Vic) area beachside. The shop is about 60 sqm’s in size. The units are directly behind the shop, one on top of the other. The top flat is about 9 sq’s and has two beds. The ground floor flat is about 5 sq’s and has one bedroom. There a two carparks on site although they have been fenced off. The property was built in the 60’s and needs about $60k spent to update it cosmetically. Considering it is returning $420 per week, what is a fair asking price.

    Thanks in advance[8D]

    Profile photo of DavidUDavidU
    Member
    @davidu
    Join Date: 2001
    Post Count: 101
    July 16, 2003 - 2:50 pm

    Hi

    What will it rent for after the $60k renovation costs?

    David U

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