guildford apartment

Not sure if the unit is 49 or 61 m2 but even as an older style unit it may be a little small as 2 bedrooms – studios are less than 50m2 and by modern standards 65-70m2 would be a one bedder, just be aware that the size is rather small (and reflected in the price). Return seems ok at over 5% however you should check whether the tenant is on a lease or just on holdover and may vacate at settlement. Do a thorough inspection (to check that the tenant keeps the place in order – including making sure that the stove works completely & is in a clean state).

I can see why you are attracted – the yield is good. But there is, as they say, "no free lunch". At <50m2 there are difficulties getting finance or getting finance at decent LVR's. There are very few lenders that will do it.
Shared laundry is not a big seller as already mentioned.
You could perhaps do better.

Though its close to Parramatta and the station it is really a tiny unit. The average stay wouldn't be long hence eating into your profit margin (if any) with the REA taking a weeks rent every new lease. Also the equivalent of  2 months rent go to rates/body corporate etc. The shared laundry may turn many people off when the rental market isnt so tight. Keep looking, plenty about……..