3 Mary Irene Place, Castle Hill
I generally like to comment on properties where sellers have made decent profits or simply inspire me by their work.
This property at 3 Mary Irene Place in Castle Hill was a flip and is inspiring.
The sellers tried to make big profits i.e. $300,000+ in 9 months.
Unfortunately for them it didn’t quit come off as they had initial expectations around $1,850,000-$1,950,000.
I have to commend these flippers as they have done a truly amazing job with this property and I’m sure if their standards continue into the future, their hard work will surely pay off with even better returns.
Originally purchased for $1,400,000 in February 2018.
I would estimate the renovation cost at least $110,000 with new bathroom, new kitchen, updated facade, pool glass fencing, knocking out some internal walls, flooring, updated window coverings, carpet, decking and well crafted styling.
Sold for $1,691,077 by Sunny Gandhi of The Agency.
Stamp duty would have amounted to over $62,000.
I would estimate excluding holding costs these flippers made approximately $90,000.