42/63-69 Bonar Street, Arncliffe
SydNest Score: 3.3/5
Location 3 | Price 3 | Condition 4 | Amenities 3 | Neighbourhood 3
Located on the 4th floor of a secure building, this one-bedroom apartment features an open plan design with good natural light, modern kitchen, very generous balcony, and convenient access to local amenities and transport options in Arncliffe. A great way to enter the Sydney market, in my view.
Ideal for households with incomes from $125,000 to $175,000.
The sales agent has not listed any pricing information, but has made it appear in searches above $600,000. I expect that to be the lower end of the guide.
Last sold for $579,000 in 2017 and the desktop valuations suggest around $635,000 today, with a maximum of $707,000.
At $675,000, If you have a 20% deposit (at least $169,000), this unit could be attainable with household income of at least $155,000, probably down to $125,000 if it’s an investment.
If you have a 5% deposit (at least $67,500 deposit), this unit could be attainable with household income of at least $175,000, probably down to $150,000 if it’s an investment.
Note: Some banks might require a 10% deposit and a full valuation for this property. However, you can contact me at my website if you want to talk more about this.
Of course, these estimates are subject to so many things, which you can read about in my disclaimer.
What I love about Arncliffe
Arncliffe is a suburb that offers a unique blend of urban convenience and diversity. Here’s why Arncliffe is a great place to buy:
Multiple Transport Options: Arncliffe is well-served by public transport with easy access to Arncliffe, Turrella, and Wolli Creek train stations. This makes commuting to Sydney’s CBD and other parts of the city straightforward and efficient. The Metro at Sydenham opening soon will make this location even more convenient.
Convenient Amenities: The area boasts a range of amenities within walking distance, including Woolworths, local cafes, shops, and restaurants. This ensures that daily necessities and dining options are always close at hand.
Recreational Opportunities: Arncliffe is near several parks and recreational areas, including riverside walks, bike paths along the Cooks River, the local Rowing Club, and the Kogarah Golf Course. These spaces offer plenty of opportunities for outdoor activities and relaxation.
Community and Lifestyle: Arncliffe has a strong sense of community with various local events and activities. The suburb’s mix of residential and commercial areas provides a vibrant yet relaxed lifestyle.
Growth Potential: With ongoing development and investment in infrastructure, Arncliffe is poised for growth. This makes it a potentially lucrative area for property investment.
In summary, Arncliffe offers a combination of accessibility, amenities, and recreational options that make it an appealing location for prospective buyers seeking a balanced urban lifestyle.
Here’s what the apartment offers
Generously sized courtyard apartment in the Domus security building
Elevated position with suburban views
Open design with living, dining, and study areas
Light-filled north-east aspect with neighbourhood views
59sqm courtyard-sized terrace
Double bedroom with built-in storage and terrace access
Modern stone kitchen with gas cooktop and dishwasher
Full bathroom and separate internal laundry
Air-conditioning, intercom, security parking, and a storage cage
Keep in mind ongoing costs
Strata levies: Not disclosed. Make sure you ask the agent or get a strata report to find out more.
Council rates: Not disclosed, ask the agent for more details.
Water rates: Not disclosed, ask the agent for more details.
Rental potential: I estimate a weekly rent of around $650 per week with medium confidence. Vacancy rates and property management fees should be considered when evaluating potential investment income.
If you like it
Good luck with the inspection, Saturdays at 1.15pm. Visit my website if you would like me to arrange your finance.