I'm considering purchasing a modern 2 bedroom apartment with a car space in Forest Lodge Glebe for an investment property. Location looks good and seems to tick all the boxes but I'm not experienced with this area. Any feedback or advise would be appreciated.
Forest Lodge = Glebe
Close to Sydney Uni (& UTS), restaurant strip, city, city-west link.
Those things won’t change.
Wentworth Park – to be redeveloped.
Modern 2 bedroom with carspace in Forest Lodge will set you back around 600k..my personal thoughts on this purchase:
1. Forest Lodge don’t need a car space…no demand for it + hard to rent it out separately since it’s not that close to CBD + plenty of bus….you be paying an extra $50,000 for a car space and it will not give you the return your after.
2, Plenty of student accommodation in this area- so consider targeting students for the higher rent–but higher risk as well
3. Fraser building is being built and it’s a MASSIVE development with over 400 + units, this alone will push down all the “modern” new units in a few years time …. unless demand can keep up.
Overall the place is not a bad investment, but you will find a place that’s $50,000-90,000 cheaper without the car space + is it on the main road???
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
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