1105/1 Brodie Spark Drive, Wolli Creek
1105/1 Brodie Spark Drive Wolli Creek is a 2 bedroom apartment with views over the Cooks River and Sydney Airport
SydNest Score: 3.8/5
Location 5 | Price 3 | Condition 3 | Amenities 4 | Neighbourhood 3
This compact two-bedroom apartment is on the 11th floor. Its 9 years old and the small east facing balcony offers views of the Cooks River and Airport.
Ideal for households with incomes from $170,000 to $230,000.
The sales agent has been transparent and listed a price guide of $940,000 - $990,000 search filter.
Last sold for $660,000 in September 2015 (I suspect this was the first transaction from the developer, well regarded Frasers), and the desktop valuations suggest around $870,000 to $942,000 today. Put another way, a $990,000 sale would mean a 4.7% average annual return for the vendor, which suggests the unit might not be overpriced.
At $990,000, If you have a 20% deposit (at least $200,000), this unit could be attainable with household income of at least $200,000, probably down to $170,000 if it’s an investment.
If you have a 5% deposit (at least $50,000), this unit could be attainable with household income of at least $230,000, probably down to $200,000 if it’s an investment.
Of course, these estimates are subject to so many things, which you can read about in my disclaimer.
What I love about Wolli Creek:
Convenience:
Transport: Wolli Creek boasts excellent transport links. It has a train station on both the T4 Eastern and Airport lines, offering frequent services to Sydney CBD, Bondi Junction, the airport, and other suburbs. Buses are also readily available. The T4 is isolated from the rest of the Sydney Network, so experiences less difficulties and great service.
The Sydney Metro opens at Sydenham soon, which is only two stops, or 3km away from Wolli Creek. This puts Wolli Creek in a better proximity to much of Northern Sydney.
Proximity: The area is close to major destinations. It's a quick train ride to Sydney CBD and within easy reach of Newtown's vibrant food scene and the beaches of Maroubra and Coogee.
Amenities: Daily necessities are within walking distance or a short trip away. There are supermarkets (Woolworths, Aldi), Asian grocery stores, pharmacies, cafes, bakeries, and restaurants.
Modern Living:
New Apartments: Wolli Creek features a high concentration of new, modern apartment buildings. These apartments often come with amenities like gyms, pools, and secure parking.
Clean and Modern Aesthetic: The area has a clean and modern aesthetic due to the recent development. While some might find it lacking in character, others appreciate the fresh and organised feel.
Green Spaces:
Parks and Recreation: Wolli Creek isn't all concrete. There are green spaces like Wolli Creek Regional Park and Girraween Picnic Area offering opportunities for walking, picnicking, and enjoying nature. The Cooks River also provides a scenic waterfront element.
The apartment itself has some limitations to consider:
Noise: Being in the heart of Wolli Creek means you’re on top of the Princes Highway and right next to Sydney Airport. However, facing east and being on the 11th floor might mitigate a lot of the highway sound.
Here’s what the apartment offers:
Open-plan living/dining area
Modern kitchen with stone benchtops and Smeg appliances
Floor-to-ceiling windows (in some rooms)
Balcony accessible from bedroom and lounge (8 square metres)
1 secure car space and storage cage included
Balcony, internal laundry
Located near Discovery Point shops, cafes, and restaurants
Building has access to 4 gyms and 4 pool areas (access fees may apply)
Short walk to Wolli Creek train station (travel times mentioned are approximate)
Please note: Some of the images in this advertisement show virtual furniture.
Keep in mind ongoing costs:
Strata levies: Approximately $1,607 per quarter
Council rates: Approximately $371 per quarter
Water rates: Approximately $245 per quarter
Rental potential: Valuation models suggest a weekly rent of between $850 and $950 per week. Vacancy rates and property management fees should be considered when evaluating potential investment income.
If you like it
Good luck with the inspection, this Saturday at 11.10am. Visit my website if you would like me to arrange your finance.