744/5 Loftus Street, Turrella
This two-bedroom apartment in Turrella offers a contemporary living space with easy access to public transport and local amenities. I really like how it is north-facing and enjoys a good floor plan that maximises natural light.
Ideal for households with incomes from $140,000 to $200,000
The sales agent has not listed a guide, but made the listing appear above a search of $750,000, so I expect that to be the lower end of the guide.
Last sold 2015 (I believe this was the primary sale, so it has only had one owner) for $678,000 and the valuation model suggests $785,000, with a maximum of $854,000. In my opinion, the vendor would only be getting a 3.5% average price increase if it were sold for $827,000.
Please note: One bank will only lend up to 90%. If you want help navigating finances surrounding this purchase, contact me through my website.
At $800,000, a 20% deposit (at least $200,000 including stamp duty) could be affordable for those with household income of at least $170,000, probably down to $135,000 if it’s an investment.
If you have a 5% deposit (at least $80,000 including stamp duty), this unit could be attainable with household income of at least $200,000, probably down to $165,000 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 Turrella
Close to public transport for easy commuting. It has its own station and is two stops from the Airport and a 20 minute trip into the city
Quiet, residential neighborhood with a community atmosphere.
Nearby parks and green spaces for outdoor activities.
Close to shops, cafes, and essential services.
Here's what the apartment offers
Two bedrooms with built-in wardrobes.
Modern kitchen with stainless steel appliances.
Open plan living and dining area.
Spacious balcony with district views.
Secure parking space and storage cage.
Access to communal gym and swimming pool.
Keep in mind ongoing costs:
Strata levies: Ask the agent
Council rates: Ask the agent
Water rates: Ask the agent
Rental potential: Valuation models are not accurate for this listing, but I assumed $830 per week in my calculations. 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 2.55pm. Visit my website if you would like me to arrange your finance.