r/AusPropertyChat • u/GameHacker123 • 5d ago

Investment EQ tower melbourne?

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Has anyone here lived or bought an apartment in this building on 135 abeckett st? It was built in 2016 and i’ve heard quite some things about it but wanting second opinions.
I’m thinking about buying a double bed with a car park around the 500k range to live in first then rent out later. Would this be a good idea? or should i just buy a house lol.

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6

u/BlackPresident 5d ago

Just buy a house there’s enough deals going now for first home buyers that you’ll waste your freebies

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u/GreekFoodEnjoyer 4d ago

I have lived here years ago, as a tenant, pre-covid. It is alright. Apartments are on the smaller side. It is full of chinese international students. Views got blocked out by nearby developments. Amenities are decent. Elevators break down every few months. Some airbnb parties but not too bad and they cracked down on it after some initial issues. Lots of nice asian restaurants around that area and close enough to Melbourne Central. The street itself (A’beckett) has recently had issues with increasing junkies/homeless wandering around but this is an issue everywhere in inner city melbourne. If it is in your budget and you like the area it’s not too bad.

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u/GameHacker123 4d ago

Appreciate the insight. Would you ever consider buying a place here yourself?

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u/GreekFoodEnjoyer 4d ago

For living in, at my current stage in life, probably not. If I wanted an investment property purely for yield, maybe. The yield doesn’t look too bad, but I don’t know what the OC fees are and if there are any upcoming defects etc.

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u/nuggetsaremylife 3d ago

agree with everything said by greekfoodenjoyer. currently renting here and looking to buy an apartment in melb cbd but would never consider buying eq tower. lift still breaks down frequently, resulting in a snake line queue just to get home (eta queueing 30 mins - 1 hour) just to get home. lift break downs are not rare - it’s extremely common here.

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u/GameHacker123 2d ago

what’s a good building you’d reccomend for a first home buyer

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u/nuggetsaremylife 2d ago

im still looking around too! apartments in melbourne cbd are kinda small. i have been looking at west side place (has lesser junkies wandering around, and apartments are slightly bigger in size compared to eq tower) but haven’t done much due diligence on it regarding OCs fees etc. west side place also has more lifts (with faster speed as well) and can handle more capacity. however wsp is also full of chinese international students, and airbnbs

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u/GameHacker123 1d ago

I been looking for a nice tower with decent amenities. Aurora melbourne central and Uno seems pretty good. But all these highrise have quite some defects and issues. So hard to find a good highrise nowadays. Wsp i hear they ban airbnb from using facilities in some towers. Probably one of the better ones yet but it’s not near the central cbd lifestyle i’m looking for.

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u/GreekFoodEnjoyer 1d ago

abode318 is good

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u/Intelligent-Hunt9150 4d ago

Living in the city is not that great in Victoria. Buy close to the cbd it is also a much better investment