2/1 Marne Street SOUTH YARRA

Benefits

Good rental prospects
Higher risk as newer precinct
Lower risk established look
Area distance from CBD
Above average precinct for general area

Concerns

Minimal land content as proportion of price
Touches other properties
No separate laundry
Mal James
Mal James
Principal Buyer Advocate
0408 107 988
mal@james.net.au

Comments on 2/1 Marne Street SOUTH YARRA

This is a bit of a surprise package. A ground floor Art Deco apartment with doors opening to a shared garden, but as the garden is located immediately outside the living room and there are no other apartments which would have easy access to it, the residents of this apartment will have it to themselves for most of the time.

This apartment has a good feel and while not the usual open plan layout found in modern apartments, it does work and offers separation and flexibility in the use of the spaces, although it is a little dark inside. The apartment has an outlook to Marne Street and the garages are  located with access from Toorak Road. This serves as a buffer to the noise on Toorak Road although this may make access more difficult during peak hours. While we did not consider the traffic noise to be overwhelming during our inspection, buyers should inspect themselves to get a clearer idea if this will impact lifestyle. Another consideration is the size of the garaging which is narrow and would only be suitable for a smaller car, longer term parking or even storage.

In general, the location and feel of this apartment make it stand out from the more modern offerings, and the fact that it is ground floor could make it an appealing prospect for downsizers - although the compromised garaging could turn some of this demographic away. Young professionals and buyers looking for a city base (who don't mind on street parking) will enjoy the amenity of this location and the size of the flooplan.

So what is the value and price equation in this property? A lot of buyers will see good value in the Domain precinct location and the size and quality of this apartment. In terms of price, there have only been a handful of sales over the past 10 years in this complex meaning that this complex is fairly tightly held. Understanding the depth and strength of the market now, and the rarity of this sort of offering will be important in terms of where price may end up.

 

 


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2
Bedroom
2
Bathroom
1
Parkings
155sqm
Land Area
Floor Plan Agent

Auction - 12:30 PM Jul 25 2015

Quote $1,300,000

East Facing

Full James Rating Sheet

Be with James

Would you like to talk to us about finding or negotiating on your next home?
We buy 100 homes for our clients every year.
We buy Inner East and Bayside over $2m.