29 North Road BRIGHTON

Comments on 29 North Road BRIGHTON

If our job is to buy it - because its close to beach and that's it, then ok 
 
But just checking 
 
Key points as we work through an analysis 
 
1. You said build two - sell one and live in one.
1a. You only have one crossover, so has to be one behind the other and you have big street setbacks from North Road, so would be tight (block is wider than normal but not real wide) and where does garaging go
 
2. Its close to beach but noise and pollution is there - so build would have to be probably double glazed both second stories and insulated - extra cost
 
3. You have 5 neighbours to deal with on rear unit
 
4. Is it going to wash its face and if you planned to sell front one - more saleable - are you going to be happy in the rear (it will be tight and two storey still has to be got thru the process)
 
5. Are the numbers $3.5m with stamps plus $2m build plus 500K risk and hold costs = $6m - 3.5m for front and 2.5m for back and where is profit?
 
6. Happy to buy it low $3m and still work to do - the 3’ beachside easement does not worry me - nor does the caveat once the legals are checked by as lawyer.
 
7. The house as a reno can’t easily work with that staircase