Park Central is a residential complex of 100 apartments. Developed in the late 1990's and has a high ratio of owner occupiers. This apartment is well positioned in the building as it faces the park although level 2 may not be as desirable due of the lack of district / park views that a higher apartment can enjoy. This building is highly sought after by down-sizers and retirees. It could be a good option for a young family to capitalise and add value via cosmetic works but it is probably more suitable for a down-sizer. Cosmetic work recommendations down the track, opening up kitchen dinning area and renovation of wet areas. At $12,393 rate psm, a buyer should be asking the question whether there are more options at this level with better views and condition? I would recommend running a detailed pricing analysis to make sure you are not overpaying on this one also checking sinking funds for maintenance provisions.
David has worked as a property Investment adviser, property consultant, buyer agent & valuer to private clients, financial planners, accountants, finance brokers and various government entities since 1999. He has been involved in more than $1b worth of transactions across Victoria, New South Wales, South Australia, Western Australia & Queensland.