One bedder. I like one bedders. The entry point is low and the tenant pool pretty big - singles and couples.
This one was a good buy for a number of reasons.
It's a small complex with no complications like elevators or pools. The sinking fund is okay and from the strata minutes there are no issues.
The flat has a good (for the inner west) outlook from the balcony, so it has an expansive feel.
The location is fabulous. It's 150 metres to the train station, but the train line there runs through a deep cutting so there is no noise. It's also 150 metres from the caf? that last year was voted the best in Sydney (Cornersmith). And there are dozens of other cafes, restaurants and bars less than a ten minute walk, so it's hipster heaven.
The flat itself isn't anything special - yet. I do like the fact that the bathroom does not open off the bedroom. It needs a new kitchen - October job when the current tenancy ends. I had to fill in a form for the current managing agent so they had my details as the new owner. It was a standard form that asked me to disclose a bunch of stuff about the property including whether I knew if any major crimes had taken place in the property. I said that I was pretty sure painting a parquetry floor mission brown was a major crime. I'm looking forward to get that sanded.
I got it for $370K - the article below has the wrong price in it. Being only 39 sqm obviously reduced the pool of potential buyers. The only way I got this flat was because I moved very quickly. I reckon if it went to auction in this crazy Sydney market it would have gone for more than that.
http://www.propertyobserver.com.au/...-weekend-s-cheapest-sale-at-marrickville.html
The current tenant pays $300 per week. When I do the kitchen and floor, I'll probably rent it out furnished for a bit under $500pw.
This one was a good buy for a number of reasons.
It's a small complex with no complications like elevators or pools. The sinking fund is okay and from the strata minutes there are no issues.
The flat has a good (for the inner west) outlook from the balcony, so it has an expansive feel.
The location is fabulous. It's 150 metres to the train station, but the train line there runs through a deep cutting so there is no noise. It's also 150 metres from the caf? that last year was voted the best in Sydney (Cornersmith). And there are dozens of other cafes, restaurants and bars less than a ten minute walk, so it's hipster heaven.
The flat itself isn't anything special - yet. I do like the fact that the bathroom does not open off the bedroom. It needs a new kitchen - October job when the current tenancy ends. I had to fill in a form for the current managing agent so they had my details as the new owner. It was a standard form that asked me to disclose a bunch of stuff about the property including whether I knew if any major crimes had taken place in the property. I said that I was pretty sure painting a parquetry floor mission brown was a major crime. I'm looking forward to get that sanded.
I got it for $370K - the article below has the wrong price in it. Being only 39 sqm obviously reduced the pool of potential buyers. The only way I got this flat was because I moved very quickly. I reckon if it went to auction in this crazy Sydney market it would have gone for more than that.
http://www.propertyobserver.com.au/...-weekend-s-cheapest-sale-at-marrickville.html
The current tenant pays $300 per week. When I do the kitchen and floor, I'll probably rent it out furnished for a bit under $500pw.
