IP in Sydney <10km within CBD up to $600K?

[DeeC]

I've been following the forums for some time and learning a massive amount. Thanks to all the great contributors out there!

I have just placed an offer here in Perth on a first IP. Looking east coast for a second. I am leaning towards Brisbane (e.g. Coorparoo, Carina) but also considering Sydney. Feel 12 months late to the party.

Question - if you had up to $600K to spend in Sydney and wanted an IP within 10km of the CBD, what would you focus on? I'm seeking reasonable CG for long term B&H and ideally an initial yield of 4%+ but can deal fine with 3%.

To this point my search has tended to narrow towards 2 b/rs in Lane Cove (but would you go out towards Ryde) or 1b/rs all the way from Elizabeth Bay through to Mosman. Any help greatly appreciated.

 

[im sparticus]

Ide look at easern suburbs. best value i think is maroubra you might be able to get a nice but old 2 bedder with some ocean views for that price. worth a look.

 

[scha9799]

Don't go to Ashfield and Summer Hills

The price is peak. It's hard to see capital growth in the near future. But it's a chinese market. you are most likely to compete with chinese buyers, which is not recommended.

Some units sold within a week ! I even heard an agent said sold within a day !

Good location, but I think it's a bit over priced at moment.

 

[Rolf Latham]

Lane Cove is a long established area that has a lot of older unit stock that hasbeen around a long time

Its a very desirable area to live in both unit and housing stick for those wanting a bit of green close to town.



ta
rolf

 

[eeew]

I've been following the forums for some time and learning a massive amount. Thanks to all the great contributors out there!

I have just placed an offer here in Perth on a first IP. Looking east coast for a second. I am leaning towards Brisbane (e.g. Coorparoo, Carina) but also considering Sydney. Feel 12 months late to the party.

Question - if you had up to $600K to spend in Sydney and wanted an IP within 10km of the CBD, what would you focus on? I'm seeking reasonable CG for long term B&H and ideally an initial yield of 4%+ but can deal fine with 3%.

To this point my search has tended to narrow towards 2 b/rs in Lane Cove (but would you go out towards Ryde) or 1b/rs all the way from Elizabeth Bay through to Mosman. Any help greatly appreciated.

I think you are right- about 12 months late for syd.

 

[DeeC]

I think you are right- about 12 months late for syd.

That's how it feels!

Then again with unemployment in Sydney now below 5% and improving in a low rates environment maybe I won't be complaining in 10 years? Coming from Perth one reason i like Sydney is its economy seems by far the most diversified of our cities.

Would you tend to get more dual income tenants in a two bedder in somewhere like Lane Cove or Maroubra or basically similar?

 

[Shahin_Afarin]

I would looking at areas like chippendale - close to the city, close to the uni, close to BW shopping centre and future potential to convert to a serviced apartment. Make sure strata is on the lower side and obviously check out the strata report for any curlys.

 

[devank]

Question - if you had up to $600K to spend in Sydney and wanted an IP within 10km of the CBD, what would you focus on? I'm seeking reasonable CG for long term B&H and ideally an initial yield of 4%+ but can deal fine with 3%.

Sat. Auction results:
Strathfield 1/12 Russell St 2 br u $461,000 SP Strathfield Partners
Strathfield 10/30 Russell St 2 br u $522,000 SP Devine RE

ok... I stretched the 10Km condition but a straight line might be still 10Kms