Build

17 Elvire St, Tarneit

by Dean Berman

Tarneit is a growing suburb about 30km South West of Melbourne CBD.

Sold for $760,000 by Abhi Elawadhi and Kamlesh Kamani of Reliance Real Estate.

Land was originally purchased in February 2015 for $193,900.

The builder was True Value Homes and they built the Gabrielle house design which is priced from $275,600 according to their website.

Most builders will add about $40,000-$50,000 on top of the advertised price for site costs and other expenses to get to the “turnkey fixed-price”.

Therefore we could conclude this project’s owners have created over $240,000 in gross profit excluding holding costs, stamp duty and agents commission.