Ultimo apartments

[DanielG]

Yes, another one LOL. Ultimo apartments...200-250 k, $300-300 per week rental return. Approx. $1000-1200 strata + council/water per quarter. Looks like a solid investment. Its in the centre of Sydney CBD, can't really see much of a downside...what am I not seeing?

 

[House_Keeper]

New appartments coming into the market.

I don't think that Ultimo is fully built out.

Cheers,

 

[Nathan]

They are dodgy as. The old grace brother building. Now student accomodation via unilodge. Low CG prospects. There are so many for sale, and of small size so difficult to resale and get a loan on.

Hope that helps...

 

[DanielG]

Oh I agree about the old grace brother building...not going there. But overall...what makes Ultimo 'dodgy'?

 

[r2d2]

Did a search on Domain and can't seem to find any other apartments in Ultimo that is between 200k - 250k apart from the Unilodge ones.

No problem with other apartments in Ultimo but they won't be in the price range you've mentioned.

 

[Morgs]

I'd encourage you to do a visit to Ultimo & surrounding areas. You'll get a better feel for the profile of resident in the area & surrounds. That should answer your question.

The most frustrating part of Ultimo/Pyrmont is that its in a gem of a position, but it needs more Pyrmont (i.e. the profile of the northern end) and less Ultimo.

The upside of the area of course, you will however have endless demand due to the proxmity of local universities (not to mention the city).