189 Hobson Street, City Centre
- This location has been autonomously mapped, it may not be exact.
189 Hobson Street, City Centre
$499,000
Views on a budget
Potential. Potential. Potential.
That is the word that comes to mind when I think of this apartment.
Renovated to a good standard back in 2020, and since its been a mixture of Airbnb and long term rented since then, with barely any vacancy.
Why?
A rare find in this market, a 3 bedroom apartment, with views, in good condition, under $500,000.
It's not only just that. The savvy investor here knows that long term, more and more owner occupiers are turning towards inner city apartments as the CBD becomes more and more multi cultural.
What does that mean for the long term outlook of a top floor apartment with views?
It will always hold it's premium better than anything else out there.
Not only that, but it also means that while you own the property over the next decade, the rent you receive is always above market average too. And this apartment is no different.
Renting for $785 per week, a gross income of $40,820(Just under $30k net) per year is huge for this size property. That's without mentioning that you can also change it back to a 4 bed and increase the income further.
Not only that, while usually good yielding assets are so small that banks often won't lend on them...at 58m2 internally here (according to Cotality) it means that there is no threat of the banks refusing to lend on this becasue it is too small. even if they randomly change their rules, which they have done in the past.
So there's a pretty obvious logical play here. A safe Play that also maximizes income.
Let the income roll in, and as the market changes in the inner city over the next decade, reap the rewards.
Note: The chattels in the photos may vary from what is being sold, please check the chattels list if this is important to you.
Facts & Features
Title Type
Freehold
Rates
$1663.32
Rental Appraisal
$680-$730 /week
Estimated Net ROI
5.14%
Pets
No Pets
Bailey Sauerbier
Matt Kearns
Disclaimer: Apartment Specialist are often asked to give information as to the area or dimensions of properties, including rooms, decks and patios. Apartment Specialists sources such information from third party sources (for example Council records, building management records) and passes this on; unfortunately it is not uncommon for such information to be inaccurate. If exact and accurate sizes or dimensions is an important factor in your decision then you as Purchaser must make your own independent enquiry from your own chosen expert (for example a registered valuer).
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