Development

1/3 Second Ave, Palm Beach

by Dean Berman

This triplex shows a great example of a development project.

Originally purchased for $760,000 in November 2016.

I would estimate construction at approximately $900,000 for the project.

Sold for $843,300 by Andy Hogarth and Laura Dean of McGrath.

Based on these costs, I would estimate approximately $800,000 profit could be achieved if all the houses sold for the same figure excluding stamp duty, holding costs and agents commission.

I like the flowing inside/outside design into the pool area and wooden floor boards.

Original Land