Sydney Inner City Terrace

[sydney_kings]

Hi all,

I've just purchased a 3 level inner city terrace. It needs a lot of work done to it, currently it's configured as three studio apartments with individual kitchenette and small bath/show, the rough dimensions are 26sqm for the bottom floor, 24sqm for the ground floor and 32sqm for the first floor.

Each level has their own secure entry/door.

There is a terrace rooftop as well - which I'm planning on resealing/waterproofing the roof and using this as an outdoor area.

Would you suggest that I keep the existing configuration or modifying this to become a two apartment or single terrace? I have no short term plans to live in it, so it'll be purely from a rental perspective (potentially capital gains if it arises).

Look forward to hearing your ideas!

 

[skater]

You will probably get a lot more yeild if you keep the current configuration.

 

[Jontxu]

Talk to agents

Hi there, get a few of the local agents to come in and have a look and ask them the same question, start by the agent you bought it from. They can give you good feedback on what tenants are looking for, etc, etc.

Happy investing
Jon Salvador
Finance Broker
Buyers Agent
Property Investor
http://web.mac.com/patty_jon/iWeb/HeadingHome/Home.html

 

[sydney_kings]

I'm leaning towards keeping the existing configuration as 3 separate studio apartments, redoing the kitchen, bath and flooring. This should be able to achieve about $220 per apartment rental. The roofing will need to be redone as well. Renting these out will help with the cashflow.

I'll have a look at a point in the future to put structural changes through and go through the da process, as I can imagine getting an approval will take a quite some time.