Oxford Towers, Darlinghurst?

Hello,

I am wondering if anyone here has experience investing in, or information about, Oxford Towers - which is located at 13 Waine Street in Darlinghurst (Sydney).

There are always a handful of studio apartments for sale in this building, and I'm wondering if there's a problem with it?

Yes, I know they are studio apartments, and I know they are small-ish. But are there any other issues I should know about?

Cheers, and thanks in advance.:D
 
You love those studios in Darlinghurst don't you? :)

How is the one going that you purchased there a couple of years ago? (I seem to remember a thread)
 
Wow - you have a great memory!

Yes, we purchased a very small (23 sq m) studio in Potts Point two years ago.

It's not appreciating wildly, but it rents well (never been vacant more than a week). We paid under $200K for it, and spent a few thousand on a cosmetic upgrade. It's currently renting for $350 a week. There have been a few maintenance issues with the apartment, but nothing major.

Cheers!
 
That complex at 13 Waine St is always multiples of studios for sale.

The interiors./common areas are rundown (lobby had an upgrade but not common areas), its not a very nice place to be. Rules out the corporate lease market.

Lots of churn due to high levies, low CG and high tenant turnover which erodes rent through the relet fees.

Looking at RE.com.au cheapest there is $279k with $300pw rent and $790pq strata. Not exactly exciting figures. Given its 29sqm finance is also a problem.

I have just exchanged on a 2br villa with side/rear yard for $185k rental $300pw. Much better buying to be had.
 
As always, when financing options limit the buyer base to a highish equity contribution, stock will often sit around..........which then affects others in the same building

Ta

Rolf
 
That complex at 13 Waine St is always multiples of studios for sale.

The interiors./common areas are rundown (lobby had an upgrade but not common areas), its not a very nice place to be. Rules out the corporate lease market.

Lots of churn due to high levies, low CG and high tenant turnover which erodes rent through the relet fees.

Looking at RE.com.au cheapest there is $279k with $300pw rent and $790pq strata. Not exactly exciting figures. Given its 29sqm finance is also a problem.

I have just exchanged on a 2br villa with side/rear yard for $185k rental $300pw. Much better buying to be had.

Thanks, Dave.

The studio we are thinking of buying costs less than that, rents for more, and has lower strata fees. Also, I got the strata report today, and they have plans in place for improving the aesthetics of the building.

Having said all that - your deal is a winner!!! In what area is it?

Cheers.
 
Thanks, Dave.

The studio we are thinking of buying costs less than that, rents for more, and has lower strata fees. Also, I got the strata report today, and they have plans in place for improving the aesthetics of the building.

Having said all that - your deal is a winner!!! In what area is it?

Cheers.

Western Sydney, where else ;-)
 
Flats for sale in Oxford Towers

Dear Harriet and Members,

I just saw your comment on the Oxford towers building. I wanted to ask if you know any owners who want to sell or rent their flat out in that building ?

Peter



Hello,

I am wondering if anyone here has experience investing in, or information about, Oxford Towers - which is located at 13 Waine Street in Darlinghurst (Sydney).

There are always a handful of studio apartments for sale in this building, and I'm wondering if there's a problem with it?

Yes, I know they are studio apartments, and I know they are small-ish. But are there any other issues I should know about?

Cheers, and thanks in advance.:D
 
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