01 Oct Interlinked Property Solutions Weekly Featured Property
Are you looking to invest in property for the first time or keen to build your portfolio?
Our featured property of the week is the perfect opportunity to get a foot in the door for owner occupiers or purchase a bullet proof investment.
8/13 Campbell Street in Balmain Sydney is a beautifully presented one-bedroom apartment only three kilometres west of the Sydney CBD.
Interlinked Property Solutions supports investors in their individual property journey by removing the complexities and creating a safe environment for investors.
Founder and CEO of Interlinked Property Solutions, Greg Wickham is a property and financial industry professional with over 30 years’ experience working across both residential and commercial markets covering all property asset classes.
Prior to Interlinked, Greg has most recently been CEO of two top tier Australian property valuation and advisory firms and has also owned a successful property valuation firm before joining several respected organisations in Australia, including CoreLogic, Valuation Exchange, Opteon Property Group and WBP Property Group.
Greg has analysed the market risk on this property by collating and interpreting data that has been independently assessed and among the reasons he thinks this property is worth considering are:
- It is in a strong inner west suburb of Sydney that is close to all amenities
- It is only three kilometres west of the Sydney CBD
- Sustainable capital growth is likely
- There is positive performance data proven over 10 years
- The property would suit owner occupiers or investors
- It is a ground Floor One (1) bedroom strata unit, with shared garden area and an open car space
- It has low outgoings and vacancy rate
- It is a well-maintained block of 18 units
- And the unit is 42.9sqm and parking is 13.4sqm
- Potential gross yield of 4.00% (approx.)
Greg’s overall recommendation is that this property would be good to buy with a medium to long term view of holding the property and is happy to provide further property strategy advice on this, and other properties in the area.
Additional data on the property that is important to consider include…….
Selling Agent’s Comments:
- Price Guide $585,000
- Water rates $172 per quarter (approx.)
- Council rates $272 per quarter (approx.)
- Strata rates $686 per quarter (approx.)
- Rental Potential $490 per week (approx.)
Corelogic Data on Balmain:
- Change in Median Price (5yrs) is 32%
- Annual Change in Median Price (10yrs) is 6.1%
- Median Asking Rent for BALMAIN is $685 per week
- Median Days on Market is 52 days
Real Estate.com current property information about Balmain:
- 75 properties available for rent
- 27 properties for sale.
- Median property prices over the last year range from $1,745,000 for houses to $965,000 for units
- Investment property analysis, consider houses in Balmain rent out for $890 PW with an annual rental yield of 2.7% and units rent for $680 PW with a rental yield of 3.7%
- Based on five years of sales, Balmain has seen a compound growth rate of 5.3% for houses and 4.2% for units.
Interlinked Property Solutions was established to support the increasing expectations of clients looking for independent, trusted, fact-based advice from qualified professionals.
If you need reliable, fast access to a broad range of property transaction services to help you build your property portfolio we can help.
Happy house hunting!