NSW Close to City - Under 800K Apartment??

Hi all, so first property purchase. Tend to have analysis paralysis but looking to lock something down in the next 6 months.

Looking for a PPOR apartment (ideally 2bd) that will be used as an IP later in a few years. Want to be close to the city. Given some the recent Opal Tower & Mascot Tower incidents I'm thinking an older/boutique type apartment maybe best.

Considering the following:

• Surry Hills: +Price seems to have dropped heavily here from peak.+Close to everything.
  • Recent Sales:
    • 14/37 Foster Street, Surry Hills, NSW 2010
      • $760,000
    • 24/426 Cleveland Street, Surry Hills, NSW 2010
      • $722,500

• Alexandria: +Nicer apartments compared to Surry Hills for similar price. +Still pretty close to everything. +Area still looks fairly industrial in places so possibly more gentrification to come here. -Possible oversupply (blacklist postcode)
  • Recent Sales
    • 620/222 Botany Road, Alexandria, NSW 2015
      • $810,000
    • A16/252 Botany Road, Alexandria, NSW 2015
      • $770,000

• Others: Newtown, Erskineville, Enmore, ?

I'm thinking Surry Hills over Alexandria at the moment - let me know your thoughts! Advise on what to look out for, etc. is appreciated!

 

Good stuff. I think those sold prices have been good for the buyers.
I just think, convinience factor for transport/walk to work.... Frequency and speed of transport services to where you want to be. And being walking distance to work is great.

 

I would go for a unit that has a verandah which isn't overlooked - you would spend a lot of time there and privacy IMHO would be paramount ...

 

Surry Hills has pockets of housing commission and generally undesirable people. I used to shop there and people would collect cigarette butts to smoke, yell abuse with bottles in their hands, and one time I saw homeless people fighting, one fell on the ground and others started kicking him. It has lovely parts too though.

 

100% this - personally I like lower maintenance older blocks with low strata fees. I don't think you're going to go wrong in any of those areas but I see lots of competition looking for the same thing around Surry Hills. Definitely 2 bed over 1 bedroom, much more versatile once you convert it to an IP as a 1 bed limits your market.