Inner Sydney Apartment

Budget $1.2million

Needs to be a 3br with a car.

Will be for OO, plan to live in for 3-5 years. Understand as this price point will have to compromise on things...

On the look out for apartments walking distance from the CBD.

Interested in peoples thoughts.

 

Maybe look for a > 30 year old apartment in a small block (with parking) in Surry Hills, Balmain, Potts Pt, Kirribilli, Neutral Bay, Rushcutters Bay/Darling Pt, Mcmahons Pt, North Syd etc. May have to compromise on 2 beds though. That, or look further out. Sadly, $1.2m is not what it used to be.

Or perhaps you can be counter cyclical, or rather counter sentiment, and buy something (non Meriton and not Chinatown) in the CBD. Perhaps look anywhere north of Park St and East of York St.

Eg
https://www.realestate.com.au/sold/property-apartment-nsw-mcmahons+point-133999730
https://www.realestate.com.au/sold/property-apartment-nsw-mcmahons+point-131585874

 

Hi @essendonfan glad you ended up choosing our beautiful city to reside!

Pyrmont is the only place that strictly fits your criteria of 3bed, 1car, $1.2m budget and walking distance from CBD. There is an apartment that fits your criteria; however it is an enormous complex of approx 213 units - if this is to be an investment after 3-5 yrs a large complex like this may not be a great idea. Example: https://www.realestate.com.au/property-apartment-nsw-pyrmont-134962306

Redfern offers all criteria except that it is a 25-40 min walk from the CBD. Example:
https://www.realestate.com.au/property-apartment-nsw-redfern-133758946

My Opinion
Personally I would ditch 20-30 minutes of walking distance to CBD criteria and instead trade it for close proximity to a train station for a 14 min ride. A walk from Pyrmont is still a fair distance to the CBD depending which part you are walking to. Even more so for Redfern. I would recommend areas in the Inner West such as Marrickville and Lewisham or even Mascot where there are greater OO population, they have train stations only 8-14 minutes to Central station and will find 3bed, 1car on a $1.2m budget on a smaller block (complex of 20-40 units).
Examples:
https://www.realestate.com.au/property-apartment-nsw-marrickville-128487734
https://www.realestate.com.au/property-apartment-nsw-lewisham-135198990

Note that I have not made in depth analysis on any of these suburbs or listings and hope that this gives you a good start on which suburbs to consider and what's currently on the market. Would be interested in hearing more from you to understand your criteria and situation.

Cheers,
Henry

 

Unfortunately, there is just hardly any stock available!
Plenty of rentals though if you want to get a feel for the city, maybe once corona gets sorted out, you may be able to pick up something in 12 months or so.

My pick would be Glebe, (Carlton/ Fitzroy vibe) Newtown, (has the Brunswick feel) or Surry Hills/Redfern (south Melbourne ish).
I only lived in Melbourne for a short period, but that’s how I would describe the suburbs above. I’m sure others would be chip in if my assessment is off.

 

I think this is pretty sound advice re considering Marrickville and Lewisham. Just be careful that you're not too close to train tracks as there are trains constantly running through them to stations out west! Don't know much about Mascot, so can't comment on that element.