275K Old run down unit in Penrith or a small unit in Brisbane within 10KM to CBD?

Hello Guys,

New to this forum.
was initially looking at having a buying agent involved before i came across this site.
First IP.

have two scenarios:
Sydney:
run down unit in Penrith for 275K with 4% yield? Possible capital gain down the line when airport is running, etc

Brisbane:
2 bed unit within 10Km from CBD in Moorooka, Inala with a yield of about 4.5-5%? its an old 80s style but well maintained small unit block with 4-6 other units.

Strata/rates are nearly equal.

can someone please suggest me where should i do some more research?

 

• Is it possible to add value to either unit? Eg refurbish - paint, replace carpets, replace vanity/shower screen, add built-ins, blinds, kitchen etc
• Will the works improve yield?
• Which area has the better demographic?

 

How many bedrooms is this?

 

2 bed

 

1. In Sydney....it may add value slightly.....wont have any impact on the rent however.
2. No
3. Penrith....at this stage looks good for the future. Brisbane.....i am not really sure. The apartment is within 10Km from CBD and thats the only thing i am finding attractive as eventually properties closer to CBD appreciate.

 

I might be biased cause I'm from Sydney and know Penrith.

But I reckon investing in Penrith (dependent on the scale of the complex) is better then Inala.

There will be alot more infrustructure put in place for Penrith and once the ball starts rolling for the new airport the growth will be there.

Extra points if it's close to the station obviously.

 

I've been to both. I'd agree that Penrith would have greater potential with the amount of govt money being pumped into Eastern Creek & surrounds.

 

Two words: Pen Riff

That’s were I’d rather throw my money.

 

With the 4--6 packs in Moorooka as some of those blocks are above 1000sqms they are the ones too target,one of the daughters bought another in Moorooka a short time ago..The vendors wanted 335k block of 5 on above 800sqms lmr and our daughter picked it up for 295k and was not a cent to spend and rented to 300$ per week.imho good luck..

 

but a unit?

 

A well located unit near the station/Westfields/schools etc vs a house in middle of Kingswood or Werrington. That isn't the OP's question or budget.

 

Isn't Brisbane a big country town???

(ok..dodging bricks left right centre now!)

 

Now you're the one pontificating

 

You might want to confirm your info on the Brissie unit. Moorooka isn't Inala.

 

Yes sorry. I was way off.
should have stated Rocklea.

 

If you're thinking about this area, you MUST look at the flood maps.

Rocklea disappeared for a bit during the last floods....