James Magnusson relists in Ryde

James Magnusson relists in Ryde
James Magnusson relists in Ryde

Swimmer James Magnussen doesn't shy away from pressure, in the pool or in the property market.

He's re-listed his Ryde investment apartment on the same weekend he will be competing in the Olympic swimming trials in Adelaide.

The property is due to go to auction April 9, around the date he meets world number 1 Cameron McEvoy and star prodigy Kyle Chambers in their continuing 100 metre freestyle battle.

Magnussen will be up against it after finishing third in the recent NSW championship earlier this month after shoulder reconstruction surgery.

There are only two spots available for the 100 metre freestyle team for the Rio Olympics, but James is confident in his recovery.

"Preparation is going really well, very motivated and excited about the Olympic trials in two weeks," he told me.

"I'm feeling confident in my shoulder and am not impeded by it at all."

He is still in the running for the 4x100 metre relay with his 100 metre freestyle rivals and is expected to make the final four.

From lanes to listings, he has re-marketed his Ryde investment apartment after it failed at auction last November.

Magnussen Enterprises Pty Ltd paid $623,000 early last year for the three bedroom, 1960's red-brick walk up block unit.

Bought in original condition in the block of six, the Drummoyne based Magnussen, along with a builder mate, renovated the 88 sqm apartment to fill in time while he was in recovery from his shoulder.

The ­total refurbishment, including new open kitchen and bathroom, cost about $50,000.

But come auction day the bidding started and ended at $740,000.

Now the Gladstone Ave unit, with district views, has been re-listed through John Paranchi of Hunters Hill McGrath who's had the The Hired Home stylists furnish what was previously an empty space.

They have a price guide of $750,000 to $800,000 suggesting investors are likely to yield $650 weekly rental tenants.

Magnussen does have an eagle eye for a good property deal as he spent $935,000 in 2012 on his own Drummoyne flat which was seemingly well bought as it had traded at $910,000 some five years earlier in 2007.

This article was first published in the Saturday Daily Telegraph.

Sydney Residential Market

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