Hi guys
Does anyone own any apartments in Bondi, or the Sydney eastern beaches, aka Coogee, Clovelly, Bronte etc?
I've found a little one bedder just off the end of Bondi Rd, in a fairly large old group, for $300k. It has awesome views of the water, and is rented for $350 per week. Sounds OK, but it has horrendously high strata fees of $1600 per quarter, due to some unspecified works that are required.
Do you think it has the potential for decent growth that would make it worthwhile paying the high strata fees? I mean Bondi is probably the highest density suburb in Australia, it's obviously very popular and finding tenants would be a problem, but would oversupply be an issue?
There's another unit for sale in the same group for $340k which is higher up which has even better views, to North Bondi on one side and to Maroubra on the other side, but the strata fees are the same and it rents for the same. Weird.
Anyway, would welcome your thoughts.
Does anyone own any apartments in Bondi, or the Sydney eastern beaches, aka Coogee, Clovelly, Bronte etc?
I've found a little one bedder just off the end of Bondi Rd, in a fairly large old group, for $300k. It has awesome views of the water, and is rented for $350 per week. Sounds OK, but it has horrendously high strata fees of $1600 per quarter, due to some unspecified works that are required.
Do you think it has the potential for decent growth that would make it worthwhile paying the high strata fees? I mean Bondi is probably the highest density suburb in Australia, it's obviously very popular and finding tenants would be a problem, but would oversupply be an issue?
There's another unit for sale in the same group for $340k which is higher up which has even better views, to North Bondi on one side and to Maroubra on the other side, but the strata fees are the same and it rents for the same. Weird.
Anyway, would welcome your thoughts.