The vendor is now accepting offers from $470,000 on this 1-bedroom apartment, located in North Sydney. The property last sold in March 2016 for $510,000 where the vendor is hoping the reduced price will attract either an owner-occupier or landlord for a quick sale.
According to Todd Houghton and Harrison Wright from Altium Property, this 1-bedroom apartment is located wthin the sought after Alexander Apartments. The unit comes complete with a balcony and allows for easy access to Kirribilli, McMahons Point, North Sydney station and the upcoming metro station.
If you think it is a good deal, make sure you crunch the numbers first. In postcode 2060, the vacancy rate has decreased over the last 12 months to 4.2% in November 2021 from 5.4% in November 2020. Asking rents have risen 4.6% over the last 12 months to 9 November 2021. The gross rental yield on units currently sits at 3.5%.
However, asking sales prices for units have decreased over the year by 31.3%. You can view recent sales in 2060 here. Given these figures, equip yourself with the latest market research, as you could possibly drive a harder bargain with the seller.
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