5% yield in Sydney

[pennyk]

Hi,

My friend is selling a studio apartment in Chippendale privately. Purchase price $240 - $260000 range. Rental return $280/wk. It is close to University, so attracts students, which means sometimes lose rent over Christmas holidays. But still a good return for Sydney, and this area has not seen the level of capital growth of other areas, so still has room to move. It has a balcony and is sold furnished (I think!).
If you're interested, the owner is in Sydney this coming week to show through. I have a stack of photos, and will put them on this site later this afternoon.

Thanks,

Penny

 

[pennyk]

Photos

Hi,

The photos of the apartment are too big, so I can't put them onto the site. If you are interested, PM me and I'll email them to you. I don't know much else about the apartments. They are on Regent St in Chippendale.

There was an on-site manager, who had a list of people who are interested in leasing. But the manager has recently died. He was going to buy this apartment from my friend, but died before signing the contracts! Bummer!! I assume they are going to re-appoint a manager, but I don't know whats involved in that.

I dont have figures such as strata fees etc. the building is at least 10 years old. Its 12 storeys high, there is security to enter, no carpark. If you travel by train into the city, it is on the left going in just before Central, just behind the old mortuary. and that's about all the information I can give you.

I have no interest in the property and am not getting any benefit out of letting you know about it.

Penny