This month our pick is 20 Harrison St Ashcroft NSW 2168. Recently sold around $730K, this 6 bedroom, 2 bathroom house sitting on 803sqm block presents an amazing opportunity for investors who want to strike a balance:
- Location – just a block away from Liverpool CBD & hospital and situated in pure residential area close to local Ashcroft Public & High School. However this area does have high public housing – up to 28% in the area.
- Building – Full brick structure house with solid bones and a unique two dwelling structure – with upstairs having a complete separate entrance.
- Value Add Potential – the house itself is already setup as dual-living and cosmetic renovation can further uplift the interior and rental return. Also there is a significant block of land available towards the back for potential subdivision or granny flat – up to 3 income stream!!
- Yield – rental appraisal conservatively at approx. $370 + $350 per week so close to 5% gross rental return – and it’s a house on 803 sqm block! Value add strategies such as subdivision or granny flat can further boost an even better rental return.
A very good investment property with oozing potential that simply just doesn’t come by everyday! I believe the place was an ex-housing commission, hence it was designed to have separate entrances, exactly like the QLD highset type of configuration and with dual-income from day 1! On top the block is large enough for a subdivision or granny flat down the track, how can any investor say no?
The only downside is that it is situated in a high concentrated housing commission area so demographics isn’t the best. However as Liverpool slowly gentrifies, plus future plans earmarked to build Liverpool into 3rd largest CBD the area certainly has big potential moving forward. Ashcroft is physically located about 35km south west of Sydney CBD. A bit of fun fact – the suburb was formed as part of Housing Commission’s Green Valley development and was named “Ashcroft” after the pioneering family in the district that gave the land for the site of this development.
Contact us today if you need guidance to find similar investment properties!