FOR SALE
Auction

16 George Street
Marrickville NSW 2204

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 430m2
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Auction Time
Sat 19 Oct 11:00 am
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Fantastic Potential

Absolutely fabulous opportunity. 4 apartments on one tittle. The property is in need of full renovation. Possible extension or redevelopment subject to council approval. 2 storey walk up with full brick construction and tile roof.
All 4 are currently leased on expired agreements returning $480 per week each. This can easily be increased with renovation.
Superbly located in a quiet street just around the corner from Marrickville Park. Close to shops and transport with light rail in less than 20mins walk.
The property comprises 4 x 2 bedroom flats each with combined lounge and dining rooms, kitchenette's, bathrooms and laundries.
The land measures approximately 430 square meters with a driveway to rear garden and plenty of space for off-street parking. Frontage approximately 11.735 metres.
Bring your imagination to improve this sound investment.
Gross annual return $99,840.00
Council rates $1026.00 per quarter
Water rates $976.00 per quarter
Land Value $1,910,000.00 (1/7/22)
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Property Details for 16 George St, Marrickville

Building Type
Commercial
Land Size
430m2

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About Marrickville 2204

The size of Marrickville is approximately 5.8 square kilometres. It has 23 parks covering nearly 10.8% of total area. The population of Marrickville in 2011 was 24,612 people. By 2016 the population was 26,571 showing a population growth of 8.0% in the area during that time. The predominant age group in Marrickville is 30-39 years. Households in Marrickville are primarily childless couples and are likely to be repaying $3000 - $3999 per month on mortgage repayments. In general, people in Marrickville work in a professional occupation. In 2011, 54.6% of the homes in Marrickville were owner-occupied compared with 51.2% in 2016.

Marrickville has 15,057 properties. Over the last 5 years, Houses in Marrickville have seen a 55.32% increase in median value, while Units have seen a 30.83% increase. As at 31 August 2024:

  • The median value for Houses in Marrickville is $2,083,514 while the median value for Units is $914,036.
  • Houses have a median rent of $920 while Units have a median rent of $650.
There are currently 48 properties listed for sale, and 125 properties listed for rent in Marrickville on OnTheHouse. According to CoreLogic's data, 523 properties were sold in the past 12 months in Marrickville.

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Alfio Musumeci
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Nick Calvaruso
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Ray White Elevate Group
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