The vendor is accepting offers from $499,000 as of 17 September on this 1-bedroom apartment, located in Parramatta. The property was last sold in September 2016 for $510,000 and the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale.
According to Andrew Kazzi and Jack Han of Devine Real Estate Strathfield, the 77m² 1-bedroom apartment is located in the "V by Crown" building on level 14. The modern unit features high ceilings, while allowing for easy access to public transport and Parramatta Westfield.
If you think it is a good deal, make sure you crunch the numbers first. In postcode 2150, the vacancy rate has decreased over the last 12 months to 4.2% in September 2021 from 6% in September 2021. Asking rents have decreased 2.1% over the last 12 months to 28 September. The gross rental yield on all units currently sits at 3.7%.
However, asking sales prices for all units have decreased over the year by 2.4%. You can view recent sales in 2150 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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