Sold September 2020
Copeland Rd, Hastings, NZ
Purchase Price
Purchase Price
$ 580k
Achieved Sales Price
Achieved Sales Price
$879.5K
ROI on Sale
ROI on Sale
-81.98%
About this opportunity
This was our first subdivision deal, and what a deal this was.
We purchased the property with approved plans for subdivision. The vendor started the process however could not complete the subdivision as they ran out of funds.
We picked this up and split the block into 3 sections. The front two sections had each a dwelling on, and the back section was a open section that could be developed.
We renovated the front two dwellings, each with their own sleepout. We sold these and the back section was purchased by the neighbors.
We were able to complete this deal within 1 year.
Before Image gallery
After Image gallery
Financials
Deal Numbers:
Purchase Price | $580,000 |
Renovation/Building Cost | $ 49,000 |
All other costs | $48,000 |
Sale Price | $879,500 |
Profit (Post GST) | $202,500 |
Raw ROI | 81.98% |
Term | 12 months |