28 Majorca Cres, Varsity Lakes is a 4 bedroom, 2 bathroom House with 2 parking spaces and was built in 2002. The property has a land size of 500m2 and floor size of 157m2. While the property is not currently for sale or for rent, it was last sold in October 2021.
Here is an opportunity for the builder, house flipper or very handy person to make some changes and improvements to this this great family sized home and profit from it. This is ideally positioned within walking distance to Varsity College, local shops & Lake Orr surrounds.
This property has been an investment home for 19 years and does require some much needed TLC. For those builders looking for project, this could be it.
Some of the key features:
The property is currently tenanted on a periodic lease. Photos are from prior to tenancy
Rates: $2,000.00 / year approximately
Water: $1,600 / year approximately
Land: 500m2
Internal House: 244.7m2 External: 15.8m2
Current rent $590 / week on periodic lease
Rental Appraisal: $670-$700 per week
The size of Varsity Lakes is approximately 5.9 square kilometres. It has 23 parks covering nearly 10.6% of total area. The population of Varsity Lakes in 2011 was 14,365 people. By 2016 the population was 15,000 showing a population growth of 4.4% in the area during that time. The predominant age group in Varsity Lakes is 20-29 years. Households in Varsity Lakes are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Varsity Lakes work in a professional occupation. In 2011, 51.9% of the homes in Varsity Lakes were owner-occupied compared with 51.3% in 2016.
Varsity Lakes has 8,045 properties. Over the last 5 years, Houses in Varsity Lakes have seen a 83.43% increase in median value, while Units have seen a 78.54% increase. As at 31 October 2024:
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