Today’s value-add opportunity is at 48 Bowen Street, Capalaba.
The opportunity with this property is for a one-into-two-lot subdivision.
Capalaba is a suburb in the City of Redland.
That’s located 21km to the east of Brisbane.
Off-peak travel time to the CBD by car is approximately 45 minutes.
In the 2016 census, Capalaba had a population of 17,333 people.
The predominant age group in Capalaba is 50-59 years.
Households in Capalaba are primarily couples with children and are likely to be repaying $1,800 – $2,399 per month on mortgage repayments.
In general, people in Capalaba work in a trades occupation.
In 2016, 71.4% of the homes in Capalaba were owner-occupied.
Currently, the median sales price of houses in the area is $740,000.
Property Market Performance
Capalaba has a solid sales volume of 23 houses sold monthly on average.
The time taken to sell a house (days-on-market) currently is 33.
This has increased from 17 days 12 months ago.
The suburb Location Score for Capalaba is 68.
The highest recorded score of any suburb in Australia is 71.
The prevailing market posture in Capalaba can be described thus:
- Sellers are in no panic and buyers are making decent offers.
- This is a healthy market for investors.
- Demand is ahead of supply but not alarmingly.
- Buyers are rarely able to get away with low-ball offers.
- Sellers are usually getting the prices they ask for.
- Expect growth to exceed the national average.
There are 2,664 similarly priced markets to Capalaba across Australia.
But only 26 have a higher Location Score.
So that means that Capalaba has good prospects for above-average capital growth, especially for active investors that embrace the Optivest investment philosophy.
Value-Add Potential
This property sits within the Redland City Council area and falls into the Low-Density Residential zone as defined in Version 6 of the Redland City Plan.
It has a 20m frontage and a site area of 859 m2.
So there is the potential to subdivide the site into two lots.
Selling Agent For This Property
Today’s opportunity is on-market through the selling agent.
Contact Jimmy Regan from LJ Hooker Property Centre (0412 941 716).
Property Listing
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Trusted Resources
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