The team at VIP Portfolio have purchased, renovated and strata titled over 60 blocks of apartments consisting of over 1200 apartments. We search evaluate, negotiate, renovate, strata title and manage blocks of apartments for our clients investment portfolio's.
This is a very tightly held market and many off these blocks are sold off market so having VIP Portfolio working for you gives you the best opportunity to source these apartment blocks.
Please see below for our most recent purchases on behalf of our clients.
Project: Existing block of 6 x 2 bedroom apartments.
Development: We sourced and purchased the property, strata titled the units, fully renovated the apartments inside and out, added internal laundries to the apartments and courtyards to the ground floors apartments.
Time: 6 months from purchase to completion.
Capital Gain: $950,000 with an increased rental return of 61%.
Development: Existing Block of 8 two bedroom units, garages, balconies and already strata titled.
Purchased: May 2010 for a client.
Works: Exterior paint and landscaping, Interior updated kitchen, paint and re carpet throughout the apartments.
Profit: $420,000
Development: We located, strata titled, vacated, fully renovated the interior and exterior of this existing block of 6 x two bedroom units and 3 one bedroom units that included parking. They also had external balconies, and internal laundries.
Time: 8 months from time of purchase up until settlement which included a full renovation and strata titling the units.
Profit: $370,000 NETT for our Client.
Project: Existing block of 13 studios and 5 one bedroom units in need of major renovations
Development: We fully renovated all units internally and externally within a 10 week period
Start & Finish Date: Start Date April 2010 and Finish Date July 2010
Nett Profit: $1,300,000
Rental Return: Increase of 61% if the client had kept them.
Project: Existing block of 9 one-bedroom units & 2 retail shops, not strata titled in need of total upgrade.
Development: Strata Title into 11 lots through Waverly Council, organise Construction Certificate, Remove Existing Tenants, Provide Scope of Works, renovation inside and out.
Completion: Dec 2009
Profit: $580,000
Project: Existing Block of 4 large two bedroom units, not strata titled, parking and vacant for the past 6 years.
Development: Organise strata title through Randwick Council, Construction Certificate, Scope of Works, Costings, Renovations, Interior Decorating, marketing and organised the sale.
Completion: Dec 2009
Purchase Price: $1,450,000
Selling Price on Completion: $2,340,000
Buying apartment blocks is a very tightly held market and they are very hard to source and buy. The fee for this service is 2% + GST of the final purchase price.
Call us now on 1300 66 11 25 or +61 2 8084 1122.
