Newtown 21A Grange Road

Let's cut the fluff and get straight to the point. This pre-war home built in 1920 is a renovators dream. With it's sentimental character and location it is beaming with potential. The proud owners of this rare find understand it's lucrative capability however due to personal reasons, do not have the time to put in the TLC it deserves. Hence why, whoever secures this opportunity is one fortunate person/s.

According to CoreLogic (Australian real estate analytics provider), the median property price for Newtown in June 2021 was $429,000. Since January 2021 property prices in Newtown have increased on average, by 3.5% month after month. As settlement dates vary, analytics are only provided up to June 2021. However going by the analytics, you can see that if the average price of properties in the first half of 2021 increased, on average, by 3.5% every month, than the lucrative capability of investing in this property AND area is blatantly clear. Now that you have an idea of your potential return from this property, let's take a closer look at the love it needs.

The property is mostly on adjustable steel stumps however due to movement, is in need of releveling. Once releveled, the interior (although liveable) does need a bit of cosmetic repair (refer to photos). There is no doubt in my mind that with a bit of love, this discovered character gem can be turned into a true diamond. The levelling aspect of the property is instantly clear especially when you step into the property, however despite that, the property is currently tenanted for $310 per week until 30/04/2022. Even without renovations, this property still comes with the security of a devoted and trusted tenant.

Now that we have addressed the work that needs to be put in, let's take a look at the advantages.

The layout of the property is absolutely beautiful. It includes a veranda on 2 sides, gorgeous bifold timber doors that lead from the dining & kitchen area onto the rear timber deck, iconic character timber floors, tongue & groove timber walls, original pre-war high ceilings, timber French doors and timber sash windows. The property is located in the ever popular suburb of Newtown renowned for it's beautiful character homes and prime location (less than a 5 minute drive to Ipswich CBD, Ipswich Girls Grammar and Riverlinks).

In terms of location, potential return and profitability this property has it all and is just waiting for the perfect someone to put their stamp and flare on it.

If you would like to inspect this property, please contact Josie Smith on 0421 472 330.

Miljose Pty Ltd t/a Century 21 Josie Smith and Co has taken all reasonable steps to ensure that the information contained in this advertisement is true and correct but accept no responsibility and disclaim all liability in respect to any errors, omissions, inaccuracies, opt-in marketing campaigns to the user or misstatements contained.

Property Information

• Land area approx 450sqm