James Magnussen's Ryde investment apartment finally sold

Swimming champ James Magnussen has finally sold his Ryde investment apartment for $765,000.

The Drummoyne-based swimmer re-listed the renovated apartment last month after a number of prior attempts.

That led him to lease the three bedder for the last six months at $580 a week.

This time round Magnussen was asking $765,000, while still advertising the recently vacated home on the rental market, showing that the two time world champion wasn't too confident of a sale.

But it seems he was wrong, as David Gennusa at Snowden Parkes Real Estate Agents - Ryde has secured a quick 14 day sale.

It was just supposed to be a quick flip renovation project for Magnussen, who paid $623,000 in 2015 and refurbished during his recovery from shoulder reconstruction surgery.

He spent around $50,000 on the renovation which included a new kitchen and bathroom.

He listed the 88 sqm apartment in October 2015 with $750,000 to $800,000 hopes however a buyer failed to emerge. 

The price guide was dropped to between $710,000 and $750,000 in early 2016, but still no buyer.

He leased the apartment for $580 a week in June last year on a six month lease, a rental yield of 4.84 percent.

It's not always been doom and gloom in the property market for the 25 year old.

He spent $935,000 on a two bedroom apartment in Drummoyne in 2012 after it had traded for $910,000 some five years earlier.

Magnussen had an extended break after the Rio Olympics, where he snatched bronze in the relay. 

This article first appeared in the Daily Telegraph.