23 Hilton Street
BOUGHT* - Undisclosed
Auctioneer Nick Jones managed 3 bidders in a measured race today in front of a small but interested crowd of 30 people. After accepting an opening bid of $1,100,000, bidder two came in with $20,000 more but was quickly met by bidder one. At this point bidder three entered the fray and soon bidder one was out. At $1,240,000, a referral to the vendor was made ...

Crowd Numbers: 30 people
Bidderman: 3 bidders
 

23 Hilton Street BEAUMARIS

Benefits

Higher positional potential for long term growth
Good rental prospects
Higher risk as newer precinct
Coffee/Eateries are close by
Good school choices close by

Concerns

Requiring significant additional cash to purchase price
Possible overcapitalisation meaning higher risk on resale
Outside normal walking distance to rail
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 23 Hilton Street BEAUMARIS

23 Hilton is a strange house. It's so strange, most would see it as a bulldozer buy. As such, we have rated this home as Land Only. The questions then for prospective buyers will come down to the emotional and the financial factors: 1)whether you like the views, the highly perched, proud position and the northern orientation enough to justify spending a million dollars to build a new house, and 2) whether you will ever get your money back in the longer term if you do so. Having bought a few homes in this area we have faced exactly the same combination of emotional and financial questions, and the answers have all tended to be line-ball. So it's your call. If what you want to do with this property make sense for you emotionally in the longer term at the price you will pay, then buy up to a reasonable price. If not, then you're probably better off spending a bit more to find a home with the same positional characteristics but more suitable building characteristics, than what you are likely to pay for No 23 plus the new build cost.


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4
Bedroom
3
Bathroom
2
Parkings
887sqm
Land Area
Floor Plan Agent

Sold - 11:30am Nov 17 2012

Quote $1,120,000 - $1,220,000

North Facing

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.