Real Estate

investor edges out first home buyer for a mosman apartment

Written by The ReReport

Real Estate: 5/166 Raglan St, Mosman

AN INVESTOR bidding on the phone has picked up a two-bedroom Mosman apartment for $725,000, edging out a first homebuyer.
Both registered bidders took part in the auction, which helped push the result $25,000 above the price guide of $700,000.
Vaughn Pairman, of O’Gorman and Partners, said 5/166 Raglan St had two very rare parking spaces.

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“I don’t think I have ever seen an apartment of that size have two car park spaces, which was a hit with buyers,” he said.

Real EstateReal Estate: 5/166 Raglan St, Mosman

The two-bedroom apartment was targeted towards downsizers, investors and first-home buyers.
Mr Pairman said the unit’s proximity to the village and public transport was a big appeal for the investor.
“This apartment was a nice entry point into the marker for an investor,” he said.
Despite widespread belief, Mr Pairman said investors continued to remain an important of the market, even though they are not as active as last year.

Real EstateReal Estate: 5/166 Raglan St, Mosman

Real EstateReal Estate: 5/166 Raglan St, Mosman

Both bedrooms had built-in wardrobes, while all rooms had updated carpets and paint.
The kitchen was located right beside the front door and had space for a washing machine and dryer, as well as plenty of storage for a couple.
Mr Pairman said the Mosman property continued to hold up, compared to the rest Sydney, with the suburb having a strong buyer pool.


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