Sydney Investor - Manly
APRIL 2019Investment Grade, Top Floor Apartment Located Within 100m of Manly Beach
CLIENT BRIEF
Budget: $1,250,000
The Results
Purchase Price: $1,190,000
Rental Yield Achieved: $650/week (2.84% gross yield)
The Opportunity
Property Summary: This modern and conveniently located unit features:
– Two generous sized bedrooms with built-in wardrobes
– Spacious living flowing out to a sunny balcony
– Full modern kitchen with s/s appliances, fridge & polished floors
– Modern bathroom
– Car space
– Shared laundry
– Located within footsteps to Manly beach, shops, bus & ferry
Location: Manly is located approximately 17kms from Sydney City CBD and accessed either by car or bus or by a 15-30-minute fast ferry across Sydney Harbour. Renowned for its city convenience and relaxed cosmopolitan lifestyle, Manly is home to one of Sydney’s most famous surf beaches and one of Australia’s most popular beachside locations.
THE CLIENT OUTCOME – A SUCCESSFUL INVESTMENT
Our client was an investor looking to secure an investment grade property within Manly. We sourced this A grade unit off-market through our relationship with the local agent. In a block of 12 and only 80m to the sand at Manly Beach, the property was poorly presented, but we identified that the agents selling price was below current market value. There was a current tenant in place paying a low rent directly to the owner with significant room for uplift so we commenced our negotiations and purchased the property within 5 days of our first inspection for well below market value.
Matt, Will and Michael were an absolute pleasure to work with. They clearly delivered four things for us: access to a much wider range of opportunities than we could source ourselves on the open market; great negotiation skills; confidence in our decision; and exceptional service with all the last minute small things to get the transaction completed. Well worth their fee. We highly recommend them.