Lend Power Deal of the Fortnight – 9 Truscott St, North Ryde NSW 2113
Our pick of the week this week is 9 Truscott St North Ryde NSW 2113. A massive home which sold recently for $1.166M at auction, this 6 bedroom, 2 bathroom house with a separate 2 bed, 2 bath Granny Flat (GF) sitting on 556sqm block is an amazing gem in current Sydney market:
- Location – literally walking distance to Macquarie Hospital and minutes drive to Macquarie Shopping Centre & Uni.
- Building – Main house with 2 levels – 6 bedroom, 2 kitchen and 2 bathrooms – this is like QLD highset setup! Plus a 2 bed 2 bath GF already in place!
- Value Add Potential – Most of the key value add has already been done. The main house can do with some tidy up and renovation down the track, but at this stage minimum work is required
- Yield – combined rental appraisal of $1300/week which would gross at 5.79% rental return!
This was a deal that my client was looking at and I think it’s a real steal at $1.166M for the new owner. Obviously not a small purchase price and not suitable for everyone, but consider it’s in the decent suburb of North Ryde, good location to school & Macquarie Hospital plus decent cashflow (diversified across main house plus GF!) – it’s a dream combination of dual-living plus granny flat and an excellent addition to any investors’ portfolio!
It is interesting as I’m starting to see more and more of these type of deals popping up in Sydney as prices still trending down but properties with an existing granny flat built like these can work out really well balancing out the yield requirement and make investing in Sydney viable again.
North Ryde is a suburb in Sydney about 15km north west of Sydney CBD. Noting Ryde is one of the council that has got the biggest price drop, areas such as North Ryde/Marsfield may present golden opportunity for astute investors looking to capitalize on dual living investments in Sydney.
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