Client Name:
Camilla
Client Occupation:
VP Brand, Creative and Strategy
Client Location:
Washington D.C. USA
The Brief:
Our client is a long term Australian expat, having lived in the USA for the past 10 years. Camilla had a specific brief, an apartment on Sydney's lower north shore that needed extensive work, could serve as an investment property and become our clients Australian bolthole when the time comes.
Purchase Reason:
Investment Property / Bolthole
Property Address:
Neutral Bay, Sydney NSW
Purchase Price:
$990,000
Purchase Method:
Private Treaty
About The Property:
2 Bed / 1 Bath / 1 Car - 94sqm
This apartment is in a small block consisting of only 22 apartments, the block itself is incredibly well looked after with a new entrance foyer, lift and gardens. The apartment is light and airy, however dated and requiring a good old fashion make-over.
• Short walk to the ferry, with a 13min ride to the Sydney CBD
• 10min walk to grocery stores and amenities
• 36sqm courtyard off apartment
• Rooftop terrace with 360-degree views of Sydney harbour, North Sydney, to the Watson's Bay lighthouse
Our Services:
• Detailed brief and confirmed requirements with a reverse brief to the client
• Presented due diligence, research and cash flows on multiple apartments in the lower north shore
• Presented town planning advice per property
• Presented ballpark building costs for each apartment
• Negotiate purchase price on behalf of the client
• Liaised with the client's solicitor and mortgage broker on the transaction
• Undertook building, pest and strata inspections
• Post purchase property management
• Full project management of renovation
Did we renovate:
We are currently in the planning phase for a major renovation to the apartment.
Rent:
$585/wk
Gross Rental Yield:
3.07%
Testimonial:
”Beyond impressed and so thankful I found Michael and Richie at MC. Just completed my dream of purchasing a property in Sydney - living in Washington DC and even with family in Sydney, it's a complex process. Now having worked with MC, I would use them even if I was in Sydney myself. From the property search and vetting, to identifying which properties had unlocked capital value, avoiding the lemons, negotiating the contract to managing all the financial transactions, they were so knowledgeable and made it so easy. They worked in my timezone, and using video calls, felt like they were right next to me all the time. Now I am working with MC on a complete renovation, and they are handling property management for rental. I give them my highest endorsement. “