Looking to purchase a unit in a high rise apartment block on a busy main road. Would really appreciate everyone’s thoughts.

First time poster and purchaser and I'm really glad I found this site. I've been crunching numbers, surfing the net for months and generally just trying to soak up as much as I can wrt property and tax and whatever else I can pick up along the way. It's starting to look like I might put an offer down this week for a place for my wife to be and I.

We intend to purchase, let the current tenant stay in for another 3-5 months, live in it for 6 to qualify for FHOG and get a slight stamp duty concession, and then rent it out to people who want to be close to the city and transport.

It will be for a unit in a highrise apartment building (ten plus floors i think), with water views from the third or fourth floor. It's been on the market for a while though and I'm not sure if it's a lemon. It's on a main thoroughfare, one of the busiest you'll come across, but it's about a kilometre out of the CBD with great bus and rail within 5-10 minutes walk so i think it would suit and appeal to a young professional couple who want to be home by 6 and not have to get up at 5 in the morning.

The premises comes with a gym and a pool too so it sounds good lifestyle wise but unfortunately there also are some massive roadworks etc which will be undertaken for a year or so. We're inspecting shortly but I think the roadworks may also impact on the views.

Will the traffic from being on a main road outweigh the advantages of being in a prime transport location seconds out of town? I'm not as concerned about the affect on capital growth because Lord willing we wont have to ever sell.

I know there's probably lots of ifs and buts but I don't want to make a massive mistake or anything like that. In a nutsheel I'm probably just trying to get some reassurance that being on a busy road will attract people (students, young professionals etc not familieS) and that rents wont suffer because of it.

Any thoughts will be greatly appreciated, I would love to hear from people who have done it all before.
Thanks a million.