FOR SALE
For Sale by Auction on the 28th November 2024

638 King Street
Newtown NSW 2042

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 340m2
Land area: 151m2
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Auction Time
Thu 28 Nov 10:30 am
Inspection Times
No upcoming inspections scheduled.
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9-Room New Generation Boarding House Plus Shop in Prime Location

Newly completed and ready to start generating strong income, 638 King Street, Newtown is a four-level new generation boarding house, providing nine rooms for long or short-term accommodation plus one commercial tenancy.
Positioned on the border of Erskineville in the vibrant South King Street shopping strip and only moments from St Peters Train Station this is a versatile income producing investment located in one of the Inner West's strongest and most popular rental markets.
> Recently complete 9 room boarding house plus 1 commercial tenancy
> High quality finishes throughout with built-in WiFi, CCTV security and secure access to rooms, lockers and storage areas
> Joint access for residents to a full kitchen and dining area as well as a private outdoor garden
> Site area of approximately 151m2*
> Versatile and attractive investment with potential strong depreciation benefits for investors
> Ideally positioned within walking distance to transport links, educational establishments, hospitals with a range of popular amenities your doorstep including bars, restaurants, gymnasiums and more
638 King Street, Newtown will be sold at our Raine&Horne Commercial National Auction Event on the 28th November 2024.
*All amounts, areas and distances are approximate

Property Details for 638 King St, Newtown

Building Type
Commercial
Floor Size
340m2
Land Size
151m2

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About Newtown 2042

The size of Newtown is approximately 1.6 square kilometres. It has 18 parks covering nearly 3.7% of total area. The population of Newtown in 2011 was 14,148 people. By 2016 the population was 15,009 showing a population growth of 6.1% in the area during that time. The predominant age group in Newtown is 20-29 years. Households in Newtown are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Newtown work in a professional occupation. In 2011, 41.2% of the homes in Newtown were owner-occupied compared with 38.5% in 2016.

Newtown has 9,318 properties. Over the last 5 years, Houses in Newtown have seen a 43.05% increase in median value, while Units have seen a 22.66% increase. As at 30 September 2024:

  • The median value for Houses in Newtown is $1,935,468 while the median value for Units is $908,649.
  • Houses have a median rent of $900 while Units have a median rent of $625.
There are currently 32 properties listed for sale, and 55 properties listed for rent in Newtown on OnTheHouse. According to CoreLogic's data, 335 properties were sold in the past 12 months in Newtown.

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Dane Henrich
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Luke Smith
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Raine & Horne Commercial Inner West/South Sydney
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