Sydney-Inner city terrace houses?

The Abercrombie Street one is close to the Central Park development, which is a great place - good food, bars and a cinema.

 

You certainly can't get a terrace in Potts Point for 1.5 mil

 

I can add some input on inner city terraces. I bought one in Redfern in 1993 that has been let about 75% of the time (I have lived in it the other 25% of the time held). Tax accountant says its one of the best performing investments over time he's seen. Would rent for $800/week or a bit more. Worth about 1.3m-1.4m. Bought for 155k. Has shown more than 9% return average capital gain each year. A lot of demand from young renters who look for number of rooms. Same terrace with bigger lounge room and 2 bedrooms upstairs will let for less than 3 bedrooms and smaller lounge room It's all about number of renters who can live there. Roof leaks from box guttering will be a likely issue. Termites will also likely be an issue at some point. Rarely empty for more than 2 weeks at a time and very strong rental demand. Repairs surprisingly low. One year it grossed 40 k and netted 35k so low expenses. Check the state of floorboards (termite damage?). On street parking permit system is good. So much going for Redfern at the moment...new Inner city High School being built cnr Cleveland and Chalmers Streets with most of Redfern in the catchment area. Surry Hills mall redevelopment to start in October 2020. Light rail stop in Devonshire Street Surry Hills close by to parts of East Redfern.Tend to agree with Gockie's comments as to where he wouldn't buy however Everleigh Street is now mostly a construction site for Sydney uni accommodation. Waterloo end where he has also circled as a no buy area does seem quite dodgy however with the huge Waterloo redevelopment I suspect this area should show good capital gains for intrepid buyers..

 

Good post...

Except I'm a she. Yes, you're right Eveleigh St is a construction site as you said, so I call it a positive. I hate to see Terraces go, but I think it would have been hard to change as it was. Happy new year!

 

Apologies Gockie. Gender has never been a big issue in Redfern (another plus for the suburb imo).

 

Tick for being close to USYD and Newtown.