1606/6 Gertrude Street, Wolli Creek
1606/6 Gertrude Street Wolli Creek is a 3 bedroom penthouse apartment with views of Sydney, the Cooks River and local parks
SydNest Score: 4.3/5
Location 5 | Price 3 | Condition 4 | Amenities 5 | Neighbourhood 3
This three-bedroom apartment on the 16th floor (penthouse level) doesn’t look too bad. Its 6 years old and the northeast facing balcony boasts some views of the park, Cooks River and city (depending on surrounding buildings).
Ideal for households with incomes from $200,000 to $300,000.
The sales agent made the listing appear above a $1.4m search filter, so I expect that to be the lower end of the guide if you turn up on Saturday.
Last sold for $1.03m in August 2022 (right before the interest rate winter), and the desktop valuations suggest around $1.1m today. The very same agent sold a similar apartment for $1.4m recently.
At $1.4m, If you have a 20% deposit (at least $280,000), this unit could be attainable with household income of at least $250,000, probably down to $200,000 if it’s an investment.
If you have a 5% deposit (at least $70,000), this unit could be attainable with household income of at least $300,000, probably down to $250,000 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.
Here's what the apartment offers:
Three bedrooms with built-in wardrobes
Open plan living and dining area leading to the balcony
Modern kitchen with gas cooktop, dishwasher, and stone benchtops
Master bedroom with ensuite bathroom
Two secure car spaces with some storage
Access to building facilities including a gym, BBQ area, and electronic blinds
Keep in mind ongoing costs:
Strata levies: Approximately $1,500 per quarter
Council rates: Approximately $377 per quarter
Water rates: Approximately $172 per quarter
Rental potential: The listing suggests a weekly rent between $1,400 and $1,500. 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 10am. Visit my website if you would like me to arrange your finance.