Sydney 10km Dual Occupancy $650-700k

[IRR]

Hi,

I've been reading this excellent forum for a while and now working out feasibility to buy the next IP.

Strategy is high CG but with minimal negative cashflow.

Brief criteria are

1. House/townhouse/duplex/terrace (already have 2 units)
2. Prefer suburbs with consistent strong capital growth history over 10 years+
3. Prefer within 10km of CBD
4. On train line, easy to rent
5. Budget $650-700k

I read some very interesting discussions about dual occupancy.

1. Is dual occupancy possible with above criteria within my budget?
2. If all of above is not possible, what would be the best bets for high CG with dual occupancy, but still as close to CBD as possible and on train line?
3. For this budget would it be better to buy 2 IPs or buy 1 now and another in say 12 months time?

Any advise/experiences appreciated.

 

[HappyCamper]

10kms would put you at Ashfield on the western line, Hurlstone Park on the Bankstown line and Arncliffe on the southern line. Arncliffe would probably be the cheapest of the suburbs in the 10km radius anywhere in Sydney, but you'd still need about $700k+ for a double fronted, single occupancy house. You will most likely need to expand your radius if you want dual occupancy for the price range you've stipulated. Going west, I don't think you'd find a dual occupancy any closer than Auburn for under $700k.

 

[mumbai]

I have been looking at the Arncliffe suburb as well, to invest in a off-the-plan property. The prices in this suburb are less compared to other in similar radius. Is there a catch?
Is the suburb safe and good for families with young kids?

 

[Shahin_Afarin]

Hi Dreamz,

Yes the 'catch' is the OTP property itself. Many may disagree but I would highly recommend that you stay well clear of OTP. There are too many risks associated with the purchase and they don't justify the return.

 

[mumbai]

Got it. If I buy a ready to occupy, then ' Is the suburb safe and good for families with young kids?' ?

 

[Shahin_Afarin]

That's a question for the buyers agents. I have had many investors purchase in Arncliffe. Its a great area for investment due to its close proximity to the city as well as the train station. It is a family oriented area and rental demand is quite strong. The biggest problem with the area has and always will be the aircraft noise. Having said there are plenty of suburbs in Sydney that have rocketed even though they are affect by the flight path just take a look at Marrickville.

 

[Propertunity]

.... then ' Is the suburb safe .....?' ?

You can research about safety etc on the crime maps: http://www.lawlink.nsw.gov.au/lawlink/bocsar/ll_bocsar.nsf/pages/bocsar_lga_crimemaps

 

[Shahin_Afarin]

Hi Dreamz,

I would speak to a buyers agents such as Proportunity about the areas. You also should be looking at expanding your criteria from just safe and family orientated areas (although they are important factors).

 

[mumbai]

Yep, expanding the criteria. I had not even considered Arncliffe as one of prospective suburb, as wife was inclined towards lower north shore.
However, lurking through all the posts on SS pointed me to Arncliffe.
I do not see any hotspots in the link provided. So, it seems all good.

Are there good schools around?

 

[Shahin_Afarin]

I live on the upper north shore and it is almost impossible to find a bargain anywhere on the north shore. I inspected this property over the weekend and had to line up 10 minutes just to get in (there was a massive crowd).

http://www.domain.com.au/Property/For-Sale/House/NSW/Chatswood/?adid=2009889055

 

[Rolf Latham]

Yep, expanding the criteria. I had not even considered Arncliffe as one of prospective suburb, as wife was inclined towards lower north shore.
However, lurking through all the posts on SS pointed me to Arncliffe.
I do not see any hotspots in the link provided. So, it seems all good.

Are there good schools around?

Arncliffe and LNS ..............the saying chalk and cheese comes to mind

ta
rolf