Unlocking Potential: How a $60k Renovation on a Tired Rental Netted the Investor an Extra $105,000.

The transformation of 170 Kirby Road, Aspley, from a worn-out investment property to a premium family home.

The Challenge:

After serving as a rental property for over a decade, 170 Kirby Road in Aspley was showing significant wear and tear. With broken weatherboards, damaged interior walls, and dated finishes, its market appraisal came in at just $750,000. The owner was faced with the prospect of selling a tired property in a competitive market, likely for a heavily discounted price.

The Hicks Real Estate Solution: A Strategist with a Builder’s Eye

Recognising the property’s solid foundation and location, Justin Hicks saw an opportunity not just to sell, but to significantly increase its value. Drawing on his extensive building and construction background, he provided the client with a detailed, strategic renovation plan designed for maximum return on investment.

• Expert Recommendations: Justin identified the key areas that would deliver the most impact, advising the client to invest in:
  • Exterior repairs, including broken weatherboards and soffits.
  • Internal plastering and patching of damaged walls.
  • A full, professional interior and exterior repaint.
  • New carpeting throughout the home.
  • A comprehensive yard clean-up to boost curb appeal.
• Investment for Profit: The client invested $60,000 into the project, trusting Justin’s vision and expertise to turn the tired rental into a highly desirable product.
• Premium Marketing: Once the transformation was complete, the home was professionally staged and presented with a full suite of marketing materials, including professional photography, video, a floor plan, and drone imagery to capture its full appeal.

The Incredible Result:

The market’s reaction confirmed the strategy’s success. The once-tired rental was now a fresh, modern, move-in-ready home that attracted immediate and intense buyer interest.

• High Engagement: 25 buyer groups inspected the property.
• Multiple Offers: The strong interest generated 6 competitive offers for the owner to consider.
• Premium Sale Price: The property sold for an outstanding $915,000.

The Numbers Tell the Story:

• Pre-Renovation Appraisal: $750,000
• Final Sale Price: $915,000
• Increase in Property Value: $165,000
• Client’s Renovation Cost: $60,000
• Net Gain for the Investor: $105,000

This case study proves that selling an investment property “as is” can mean leaving significant money on the table. With expert guidance and strategic investment, Hicks Real Estate helps investors maximise the returns they’ve worked hard for.

View the property here.

Are you a landlord or investor thinking of selling? Let’s discuss how to unlock your property’s hidden profit. Contact Justin Hicks today.