Seaside Estate at Fern Bay, Newcastle is an up market development with the best of both worlds. It has lifestyle amenities whilst sstill being around 10 mins drive to everything. You can understand why people love coming home to this estate when driving along the entrance boulevard being being among the high quality homes within.
It is a quiet beachside community, with a dedicated 4WD track, only minutes to the Golf Club, under 10 mins to the Newcastle Airport, and Newcastle CBD and around 10 mins to the Northbank Enterprise Hub. So residents have the potential of thousands of jobs around 10 mins away, but get to come home to the beautiful relaxed environment where you can walk direct through the rear of the estate onto the beach.
Our Opportunity:
Duplex: Large and with quality inclusions, includes:
Side 1: 3 beds, study, 2 baths, 3 toilets, 2 cars
Side 2: 3 beds, study, 2 baths, 3 toilets, 2 cars
Total size: 382m2 Build Cost $601,000
Land: Lot 1733 ‘Seaside Estate’ Fern Bay, Newcastle – size 570.7m2 $292,000 Registration August 2016
Fixed Contract Price: H and L $893,000
Inclusions: stone benchtops, 600mm stainless steel appliances, air-con to master and living rooms in each, wall hung vanities, flyscreens, security screens, ceiling fans and blinds
HUGE OPPORTUNITY FOR EQUITY:
THIS DUPLEX IS BASICALLY LIKE DOING A SMALL DEVELOPMENT BUT WITHOUT THE RISK OR WORK INVOLVED. YOU ARE ABLE TO INDIVIDUALLY TITLE EACH SIDE THE COST TO DO THIS IS $15,000 ADDITIONAL FOR STRATA TITLE AND NEEDS TO BE PAID AT SETTLEMENT.
SO YOU BUY ONE PROPERTY FOR $893,000, BUT END UP WITH TWO, WITH MARKET APPRAISALS OF UP TO $535,00 EACH SIDE = TOTAL OF $1.070,000. THIS IS IMMEDIATE EQUITY OF OVER $177,000!

TO PURCHASE: No initial deposit required, 10% deposit on exchange of contracts.

FOR SALE: $893,000