Who has/ would buy one bed room units??
- Thread starter burty85
- Start date
Hi burty85,
I bought a 1 bedroom apartment in Glenelg, SA which is a popular coastal location in Adelaide. I have never had any trouble getting tenants and the rental income is great. BUT I probably wouldn't buy one again due to the low CG and no land content.
It seems the CG has been low because of the large amount of apartments in this suburb. So, if you bought a 1 bedroom house it may be a different story because you will at least have some land?
Good luck!
Tarah
I bought a 1 bedroom apartment in Glenelg, SA which is a popular coastal location in Adelaide. I have never had any trouble getting tenants and the rental income is great. BUT I probably wouldn't buy one again due to the low CG and no land content.
It seems the CG has been low because of the large amount of apartments in this suburb. So, if you bought a 1 bedroom house it may be a different story because you will at least have some land?
Good luck!
Tarah
Kim5 bought one.
I lived in one for about a year, there was a lot of turnover in the block (was about 14 in the block and numerous blocks of them close by) and for the area the lower end 1br units are a rather severe fraction of the price of even the low end 2br units. The area also has terrace houses and mansions, and is about 2km to the CBD. One of those extremely trendy, expensive suburbs. Last time I checked the prices in the suburb ranged from ~$200k for basic 1br units up to $4+m for mansions, and when I was living there 4 years ago the same 1br units weren't much under $200k, I was surprised how little they had moved. I guess this means that in this kind of suburb, 1br units give you the best rental yield but diddly squat CG. Suburb is North Adelaide in SA if you want to do a search on re.com.au, the difference is quite stark from the low to high end.
I lived in one for about a year, there was a lot of turnover in the block (was about 14 in the block and numerous blocks of them close by) and for the area the lower end 1br units are a rather severe fraction of the price of even the low end 2br units. The area also has terrace houses and mansions, and is about 2km to the CBD. One of those extremely trendy, expensive suburbs. Last time I checked the prices in the suburb ranged from ~$200k for basic 1br units up to $4+m for mansions, and when I was living there 4 years ago the same 1br units weren't much under $200k, I was surprised how little they had moved. I guess this means that in this kind of suburb, 1br units give you the best rental yield but diddly squat CG. Suburb is North Adelaide in SA if you want to do a search on re.com.au, the difference is quite stark from the low to high end.
I have 3. One in Mentone Vic, one in Braddon ACT and one in Chippendale NSW.
Absolutly no problems renting, great rental return and great capital gains. I love them, too small for parties or kids, but just the right size for single working people.
1BR units are cheaper than 2+BR so you can get a nicer place in a better location. The secret is to get the look and location that the occupier wants. Its just like every other business, supply what your customers want and you will do well.
Absolutly no problems renting, great rental return and great capital gains. I love them, too small for parties or kids, but just the right size for single working people.
1BR units are cheaper than 2+BR so you can get a nicer place in a better location. The secret is to get the look and location that the occupier wants. Its just like every other business, supply what your customers want and you will do well.
I think you need to do your DD when buying one bedders. They need to be in very popular strips so they will attract singles or couples. I tend to look just out of the CBD. Bought one last Apr on Chapel St (Melb), furnished it and set it up as an executive rental which gives me about 5.5% net yield. It is in a block where I have a larger appt so I know the growth/ area. Guess what I am saying is they do work but tread carefully.
I bought a 1 bed 48sqm unit in Highgate/bordering the Perth suburb. I am only 2 km to the cbd and very close to the Mount Lawley cafe strip. Sometime in the future will turn it into an ip however I love it here so much, its so convenient I dont want to move. The free bus is just a 5 minute walk and just recently I have started riding my bicycle into work which im really enjoying. When I get really fit it should only take 15 minutes to ride to work.
I would like to buy another 1 bed (1 bed is what I can afford on my income) it is such a great area to live in and so handy to everything!!
I would like to buy another 1 bed (1 bed is what I can afford on my income) it is such a great area to live in and so handy to everything!!
I like the whole idea that you ride to work, I ride a few times a week to work and more ppl should do it in my option... I find it really relaxing, besides dodging ppl in cars and trucks not paying attention lol....
Well the unit I am looking at is only minutes walk to night life, mall, bus stops, movies etc... It is the CBD, couldn’t get any closer if you tired...
Was looking at houses, but the yield on units seems to be attractive, plus location is great, views are ok, not best water front, but you can see part of the river form it.... wouldn’t hurt to mix a healthy blend of units and houses to the portfolio, only 23 yrs old so got time to figure it out the hard way if things don’t work out lol
Ah, certainly agree with this!
How much or what percentage has your unit gone up by since purchasing Kim? How long ago was it?
I bought it last September. Not sure but I think it may have gone up $20 K. I think I will have it valued next September. Not ready to buy for another couple of years though. I want to have 50 K in the bank.
