The vendor is accepting offers from $499,000 as of 10 September on this 2-bedroom apartment, located in Scarborough. The property was last sold in December 2014 for $560,000 and the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale.
According to Jarrad O'Rourke of O'Rourke Reality Investments, the ground floor 2-bedroom apartment is located in the beach side suburb of Scarborough. The modern property features a large 54 square metre outdoor courtyard, while allowing for easy access to shops, cafes, restaurants, bars and Scarborough Beach.
If you think it is a good deal, make sure you crunch the numbers first. In postcode 6019, the vacancy rate has increased over the last 12 months to 0.9% in September 2021 from 0.6% in September 2021. Asking rents have increased 19.3% over the last 12 months to 21 September. The gross rental yield on 2-bedroom units currently sits at 4.8%.
However, asking sales prices for 2-bedroom units have increased over the year by 19.2%. You can view recent sales in 6019 here. Given these figures, it would pay to do more research, as you could possibly drive a harder bargain with the seller.
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