400k for Balmain

http://balmainrealty.com/1P1402

400k for a studio in Balmain, potential to convert to a 1 bedroom! Am I missing something here?

Floorplan: http://balmainrealty.com/system/floorplan.php?id=1P1402-1

The streetview for this building is a little suss:

https://www.google.com.au/maps/@-33.8578275,151.1946152,3a,75y,208.13h,92.42t/data=!3m4!1e1!3m2!1s9J1KU88RRxlZz79ddF6WbA!2e0

I'm not in the market for this, however some questions came to mind:

  • Would it be harder to get finance for this, say opposed to a 1 bedoom unit?
  • To put up the proposed wall in the floor plan, is this just a matter of approaching the strata committee?
 
It's not a great floor-plan. When the wall goes up, if you have visitors around, they have to go thru your bedroom to go to the bathroom. :(
 
Move the kitchen to the bottom/left of the floor plan. Leaves a little nook for dining table where the existing kitchen used to be. Toilet door can then be relocated to adjacent wall.

Will also result in an open plan design after removing the kitchen walls, bonus!
 
I think the current floorplan is ok but it's tiny! I don't think it's even 30sqm? I don't think it's really designed for having visitors over :p
 
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