We are selling our IP in Northmead if anyone is interested in having a look at it.
http://www.realestate.com.au
Property ID number 1728009
It's on the market for $359 000. Current rental is $285, with 1 year lease until around Jan 2004. around a 4% return, which is kind of average for Sydney. Excellent tenants, so far! Payment is always on time and we popped in for the first open home and the place has been well looked after.
Rentals for same style of unit in block are between $285 and $300. This is only our second tenant in 2 years, and when the previous tenant vacated in january, we had a new tenant within a week - which is pretty good given current vacancy rates. There are still generally people on waiting lists with interest in renting in this block.
It's a resort style apartment with pool, BBQ area, gym etc. The apartment itself is split level. Living room/ kitchen etc is downstairs, 2 bedrooms, bathroom and ensuite upstairs. So, it's a bit different to your average 2 bedder in Sydney. Quality inclusions eg dishwasher, granite benchtops, so depreciation schedule is really good. The balcony looks out over the buildings next door and towards Parramatta. Unfortunately it doesn't overlook the pool!
strata fees are $235/qtr. There is an onsite manager, who only gets paid about $2000yr, but does an excellent job of keeping everything running and looked after.
Northmead seems to be doing well in terms of growth. It's getting flow on capital growth from both the Hills District and Parramatta.
We are selling to cash up, pay off some debts and buy up in Queensland with better rental returns. We bought this place primarily as a tax reducer when we were both employed with high incomes. We are now both self employed and can hide our income a multitude of ways! But I think it's a good investment if you are looking for a negative gearing property. It presents really well, is very appealing for tenants and isn't your run of the mill 2 bedroom apartment in Sydney!
We're selling through an agent. the details are on realestate.com.au or you can pm me!
Thanks,
Penny
Penny
http://www.realestate.com.au
Property ID number 1728009
It's on the market for $359 000. Current rental is $285, with 1 year lease until around Jan 2004. around a 4% return, which is kind of average for Sydney. Excellent tenants, so far! Payment is always on time and we popped in for the first open home and the place has been well looked after.
Rentals for same style of unit in block are between $285 and $300. This is only our second tenant in 2 years, and when the previous tenant vacated in january, we had a new tenant within a week - which is pretty good given current vacancy rates. There are still generally people on waiting lists with interest in renting in this block.
It's a resort style apartment with pool, BBQ area, gym etc. The apartment itself is split level. Living room/ kitchen etc is downstairs, 2 bedrooms, bathroom and ensuite upstairs. So, it's a bit different to your average 2 bedder in Sydney. Quality inclusions eg dishwasher, granite benchtops, so depreciation schedule is really good. The balcony looks out over the buildings next door and towards Parramatta. Unfortunately it doesn't overlook the pool!
strata fees are $235/qtr. There is an onsite manager, who only gets paid about $2000yr, but does an excellent job of keeping everything running and looked after.
Northmead seems to be doing well in terms of growth. It's getting flow on capital growth from both the Hills District and Parramatta.
We are selling to cash up, pay off some debts and buy up in Queensland with better rental returns. We bought this place primarily as a tax reducer when we were both employed with high incomes. We are now both self employed and can hide our income a multitude of ways! But I think it's a good investment if you are looking for a negative gearing property. It presents really well, is very appealing for tenants and isn't your run of the mill 2 bedroom apartment in Sydney!
We're selling through an agent. the details are on realestate.com.au or you can pm me!
Thanks,
Penny
Penny
