33/3-7 Fetherstone Street
Bankstown, NSW 2200

Perfectly positioned just a one-minute walk from Bankstown Station, this spacious apartment offers exceptional convenience and lifestyle in the heart of Bankstown CBD. It is also only a five-minute walk to the new University of Western Sydney campus, making it an ideal opportunity for both owner-occupiers and investors.

Situated on the seventh floor with a sunny northerly aspect, the apartment features a generous balcony with attractive district views.

Property features include:

• Two large bedrooms, with the main bedroom featuring a walk-in robe.
• Spacious open-plan living and dining area, ideal for entertaining guests.
• Modern polyurethane kitchen equipped with granite benchtops, stainless steel appliances, and gas cooking facilities.
• Elegant main bathroom with a separate shower, bathtub, and toilet.
• Full-sized internal laundry with a second toilet for added convenience.
• Secure single car space plus a 2 square meter storage cage.
• Ample visitor parking available for guests.

The apartment offers 105 square meters of internal living space including the balcony, with a total area of 124 square meters including the 19 square meter car space.

Currently rented at $600 per week, with an estimated rental return of approximately $600 to $630 per week in the current market. The lease has expired, allowing for vacant possession with a standard 42-day settlement if desired.

Strata levies are $3,863.41 per quarter. The building is 26 years old and has some building issues that the Owners Corporation has borrowed money to fix. The loan repayments are mostly responsible for the high strata fees. These fees are expected to be reduced significantly within the next six months once the Fire Safety Certificate is obtained and the Building Insurance Premium is reduced. The loan repayments have about three years remaining until they are fully repaid. The building rectification works are anticipated to be completed within the next two years.

This unit represents a good long-term investment for those who have the cash flow to afford the quarterly strata fees. Without the strata issues, the unit would be worth between $630,000 and $650,000 in the current market. Holding the unit until the defects are rectified and the bank loan repaid involves paying approximately $46,356 over three years in strata fees. At that time, the unit is expected to be worth at least $630,000, potentially resulting in a capital gain of around $150,000.