Example Duplex Development  

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The Story of the deal

Off-market sale. At 8am we got the call from a local contact that this opportunity existed and by midday we had it under contract with one of our clients.

Our plan is to start the project asap then keep both properties rented at a 7% yield. Refinance in 12 months.

Only 3 people ever knew that this opportunity existed.

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Duplex Development  

Purchase Price: $200,000

Gross Yield on completion : 7%

SOLD date : Aug 2021

Current Valuation: $420,000

Growth Since Purchase: $240,000

Fire damaged home 685 sqm block

• Duplex applicable
• Demolition $30,000 – Demo must be paid in cash
• LCC Approval and Strata $10,000
• LCC contribution fee $15,000
• Construction $1350 per square meter
• Building size $240 SQM
• 3 bed, 1 bath, 1 car per duplex
• Rent $390.00 per week or $780 total
• Total cost 580k

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Total value of created new equity $790,000

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