Maroubra

What do you guys think of Maroubra?

I have been looking mostly in Randwick, but I have expanded to Maroubra now, since it would be very convenient location for a PPOR for me (given that I work in Eastgardens).

I don't anticipate living there forever, though, so need to assess the property/suburb from an investment perspective. Prices in Maroubra seem quite a bit lower and yields seem a bit higher than Randwick, but I guess it has a lot more high rise apartments, which would potentially create an oversupply issue, thereby limiting capital growth. I've also heard some feedback about southern Maroubra being unsafe due to a high concentration of housing commission there.

Would love to get your thoughts, anyway - would you take Maroubra over Alexandria for a more budget conscious buyer, for example?
 
Consider the potential for short term cg with the works commenced for the Sydney light rail. It stops at Kingsford & Randwick. Possible extension to Maroubra.

Completion is 3 years off but it will be a shot in the arm for the area.Prices around the Inner West light rail have gone through the roof.

Prices around the Inner West light rail have gone north since the project was completed.
 
I love Maroubra so my opinion is completely biased. If I had the money I'd be back there in a heartbeat. I moved away 5 years ago and each time I go back I can see it's gentrifying.

Stay away from the American streets tho. I rented in that cluster a while back and it was interesting. Suits stick out like a sore thumb in there and when I lived there, the buses stopped running after dark. So tenant turnover will be higher than anywhere else.

If you can afford to buy near the beach I think you could get some reasonable growth once the shopping strip is redone and developed.
 
IMO, Maroubra is great: lived there for several years before I had to move out for work. It has gentrified so much and the momentum is still on. I would try and stick around Maroubra junction or the beach depending whether you are more focusing on transport or lifestyle. Plenty of buses to the junction running all night from the city and express buses in the morning. The guards come on board the bus past Maroubra junction, but I've never ran into any trouble at all.
I reckon the area has come a long way but still has some trauma attached to it when you compare it to the rest of the Eastern suburbs. But I think it's good, it only means there is still further to come for it. And the location is great, close to the beach and the city - that cannot be taken away. Too bad the light rail stops in Kingsford though, if they had extended it to Matoubra junction, it would have been a massive pull for the area. However anyone who has driven between Kingsford and Maroubra realises how a piece of cake it would be to extend the line in the future: Anzac parade between Kingsford and Maroubra is extra wide with a nature strip separating the southbound and northbound lanes: it is obvious extra space has been built-in for further enlargement or other projects like what the light rail would be. All speculation at this stage, but realistically it would be a pretty easy extension to do given the space is readily available without affecting current traffic arrangement or properties. Can't see Maroubra going back: it's got the beach, the transport, proximity to the City, Maroubra junction had nice shops and cafes, Eastgarden shopping Center is a 5 min drive with plenty of shops, supermarkets and Hoyts cinema if my memory is correct.
 
I love Maroubra so my opinion is completely biased. If I had the money I'd be back there in a heartbeat. I moved away 5 years ago and each time I go back I can see it's gentrifying.

Stay away from the American streets tho. I rented in that cluster a while back and it was interesting. Suits stick out like a sore thumb in there and when I lived there, the buses stopped running after dark. So tenant turnover will be higher than anywhere else.

If you can afford to buy near the beach I think you could get some reasonable growth once the shopping strip is redone and developed.
Totally agree that the area is gentrifying! So much so, that the American named streets are now a whole lot safer than what they used to be back in the day. In fact this pocket of Maroubra has become a haven for developers who purchase ex-housing commission houses, demolish, and build town houses/units.
 
Totally agree that the area is gentrifying! So much so, that the American named streets are now a whole lot safer than what they used to be back in the day. In fact this pocket of Maroubra has become a haven for developers who purchase ex-housing commission houses, demolish, and build town houses/units.

Are you a developer that's recently bought there?

For anyone looking in the area, drive down Lexington Place to check out the vibrant shopping strip. Pretty much every shop boarded up including the supermarket.
 
History Tells the story... You cant go wrong in Maroubra for CG.. i do believe growth may slow a little but if you want a bullet proof IP thats the area.... although yields arnt the best, if cash flow isnt an issue for you go for it..
 
Thanks so much again for everyon's input and all the words of support/reassurance for Maroubra!

For anyone wondering about the outcome, I ended up purchasing this place at an auction on 30 March and moved in last week:

http://www.domain.com.au/property/sold/apartment-unit-flat/nsw/maroubra/?adid=2011827705

Bathroom is a bit outdated, it is somewhat close to a main road (one apartment back from Anzac Parade) and the other tenants in the complex park on the driveway, making it difficult to access the garage... but otherwise all good so far! Very low strata was a huge bonus for me ($440 per quarter atm, going up to $550 per quarter in the new financial year).

I am thinking the next steps would be to renovate the bathroom, apply to join the body corporate, request permission to install double-glazed windows in the bedrooms, and ask for a notice to be issued to other residents to stop parking on the common property.

Also thinking if/when I move out and turn this into an IP, I may want to install a false ceiling throughout, as the stuff on the ceiling now (real estate agent said it was common in the 70's and 80's to reduce noise from apartment upstairs, but I forget what it is called) is a little unsightly.

Any tips / suggestions / feedback would be very welcome, though!
 
Congratulations on your purchase! Maroubra is a great location and you are within walking distance of the junction - good stuff :)

Actually if you want to install double glazing in the bedrooms, there is a great and easy way that does not require strata approval: just get a secondary window installed in the wall frame of your existing window. The result: better noise and thermal insulation than if you had a single double glazed window, no changes to the outside appearance of the building, so no need for strata approval and no need to take down existing windows. I have personally experienced this solution and it has made a massive difference in noise levels - really worth it. I used a company called Soundblock because they had aluminium framed windows - none of that magnet crap.
You will need to replace your blinds though, I personally got blockout curtains.

The bathroom would certainly benefit from a little renovation. Regarding the ceiling, yes this still is everywhere in older units - if you decide for another ceiling, just make sure it does not make the ceiling look shorter - the higher the better. Perhaps a kind of render or filler can be used? No idea - would also have to evaluate whether it would actually add any value for the tenants - if you wanted to do it for yourself, it's a different consideration obviously.
 
Thanks so much again for everyon's input and all the words of support/reassurance for Maroubra!

For anyone wondering about the outcome, I ended up purchasing this place at an auction on 30 March and moved in last week:

http://www.domain.com.au/property/sold/apartment-unit-flat/nsw/maroubra/?adid=2011827705

Bathroom is a bit outdated, it is somewhat close to a main road (one apartment back from Anzac Parade) and the other tenants in the complex park on the driveway, making it difficult to access the garage... but otherwise all good so far! Very low strata was a huge bonus for me ($440 per quarter atm, going up to $550 per quarter in the new financial year).

I am thinking the next steps would be to renovate the bathroom, apply to join the body corporate, request permission to install double-glazed windows in the bedrooms, and ask for a notice to be issued to other residents to stop parking on the common property.

Also thinking if/when I move out and turn this into an IP, I may want to install a false ceiling throughout, as the stuff on the ceiling now (real estate agent said it was common in the 70's and 80's to reduce noise from apartment upstairs, but I forget what it is called) is a little unsightly.

Any tips / suggestions / feedback would be very welcome, though!

Congratzzzz ! It looks great
 
Congrats!

My wife and I love Maroubra. It was moving more than 2yrs ago, a little out of our price range so we bought in Mascot. Still go to Fitness first and shop in the Junction.
 
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