NSW Artarmon - is this a good investment

6/7 Eric Road, Artarmon, NSW 2064

 

From a property manager point of view, the property appears well located to transport and well presented, kitchen has everything from dishwasher to gas cooking, and even laundry has been brought internal. However the property is not big and the carspace means there's no garage for storage, making it easy for a tenant to 'grow out' of of the property, plus the lack of outdoor space or balcony makes it not as attractive.

However upon closer inspection, those windows are not standard, the rear of the property is very close to Pacific Hwy - is the property impacted by traffic noise? That may impact its future desirability/rentability/capital growth (once the market wakes up again).

 

The new metro tunnels will be directly underneath, and not that far underground at this point!

Look at page 39 of this document:

https://majorprojects.planningporta...nt?AttachRef=SSI-7400!20190227T104359.898 GMT

 

I know that street, and it is nice there. There is some noise from Pacific Highway, but the impact would depend on where in the block the property is situated.

For me, I dislike the layout, three things in particular:

1) 54 sqm internal is quite small.
2) No internal laundry (I can see they have tried to integrate with the kitchen, but it's not the same); and
3) No outdoor area / ie no balcony. This is a bigger point. For me you need this.

If it were my money, I would pass on this property. There are neighbouring suburbs where you can get more bang for $650k.

I like Artarmon a lot, and it is where I got my start in property. So there is a lot to be said for that. Just have a think about how important it is to be in that particular patch, and if you have flexibility, I would try to stretch my money further elsewhere in this particular instance.

 

I agree with John,
good start with the bare bones small block of 6 but on the other hand yes you'd ideally get a bigger m2 for your cash. I wouldnt rush