Client Name:
Luke
Client Occupation:
Commercial Building Manager
Client Location:
Sydney, Australia
The Brief:
This particular client wanted to release the equity in their home to purchase an investment property at an affordable price. Being the 1st investment for this particular client, they preferred the property to be in Sydney. The purchasing budget was $300,000. The brief was for a medium to long term investment, looking for a gross rental yield more than 4%.
Purchase Reason:
Investment
Property Address:
Harris Park, NSW
About The Property:
1 Bed / 1 Bath / 1 car - 40m2 (approx.)
A boutique block of units in Sydney's West in close proximity to the growing and gentrifying Parramatta CBD. This purchase represented value and high yields for the investor. The property was livable but we worked with the clients budget and presented options for small cosmetic improvements. The property is centrally located with only a short stroll to the train station and only 5 minutes by car to Parramatta CBD.
• 18km to Sydney CBD
• 1.2km to Parramatta CBD
• 1.2km (5min by car) to Westfield Parramatta
• 1min walk to shops and cafes
• Rosehill racetrack is 2mins away (by car)
• 500m walk (7min) to Harris Park train station
• 35mins to Sydney CBD by train
• Boutique block
• Street and area is seeing strong gentrification
Purchase Price:
$295,000
Purchase Method:
Auction
Rent:
$350/wk
Gross Rental Yield:
6.15%
Our Services:
• Detailed brief and confirmed requirements with a reverse brief to the client
• Macro research of the greater Sydney market
• Identified key areas for growth within their price range
• Presented research findings and suburb due-diligence with our recommendations
• Commenced search and viewed properties on behalf of our client
• Presented recommended properties with the key information; cash flow analysis and supporting data
• Liaised with the client's solicitor and mortgage broker on the transaction
• Provided three options for a property manager
• Viewed and selected the most appropriate tenant application
• Renovation recommendations complete with feasibility study
• Continued support and feedback to the client about their investment