21/30-32 Arncliffe Street, Wolli Creek
SydNest Score: 2.6/5
Location 3 | Price 2 | Condition 3 | Amenities 2 | Neighbourhood 3
This lovely looking three-bedroom apartment might be 10 years old, I suspect the balcony overlooks Wolli Creek station.
Ideal for households with incomes from $180,000 to $240,000.
The sales agent has not listed a guide but has made the listing appear on searches above $1.05 million.
Last sold for $1.015 million in December 2017 and the desktop valuations suggest around $1.01 million.
Please note: One bank will not lend more than 80% against this property, and would require a full valuation. If you want help navigating finances surrounding this purchase, contact me through my website.
At $1,050,000, a 20% deposit (at least $210,000) could be affordable for those with household income of at least $210,000, probably down to $180,000 if it’s an investment.
If you have a 5% deposit (at least $53,000), this unit could be attainable with household income of at least $240,000, probably down to $210,000 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 near the Princes Highway and right next to Sydney Airport. I suspect the balcony faces the train station, so there could be noise from the train.
Here’s what the apartment offers:
3 bedrooms with built-in robes
Master bedroom with ensuite bathroom
Open-plan living and dining area
Modern kitchen with stainless steel appliances and gas cooktop
Wrap-around balcony
Main bathroom with bathtub
Internal laundry area
Timber and tile flooring in living areas
Split air conditioning system
Keep in mind ongoing costs:
Strata levies: Ask agent
Council rates: Ask agent
Water rates: Ask agent
Rental potential: Valuation models suggest a weekly rent of around $1,000 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 1.30pm. Visit my website if you would like me to arrange your finance.