OFF MARKET

246 Donnelly Street
Armidale NSW 2350

Bedrooms: 16
Bathrooms: 10
Car spaces: 10
Land area: 2003m2
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Property Details for 246 Donnelly St, Armidale

246 Donnelly St, Armidale is a 16 bedroom, 10 bathroom Unit with 10 parking spaces. The property has a land size of 2003m2. While the property is not currently for sale or for rent, it was last sold in July 2021.

Building Type
Unit
Land Size
2003m2
Local Government
Armidale Regional
Lot/Plan
2/DP237401

Last Listing description (May 2021)

Serious investors take note.

246 Donnelly Street is a rare offering in Armidale's market. Showing a strong and consistent return of approx $110,000 per annum operating as a short medium and long term accommodation business over the past twenty years. This is an exceptional investment prospect.

The property sits on three separate land titles, and encompasses 6 x 2 bedroom units and 4 x 1 bedroom units, all furnished, and are to be sold in one line on a walk in walk out basis.

Historically the units have had exceptionally low vacancy rate with all units currently occupied.

The holding has been owned by the current seller for the past twenty years and has been fastidiously maintained and updated as required.

All units include independent power and gas meters and NBN connection while town water is covered in the weekly rent.

Each unit consists of an open plan living and dining space, separate kitchen laundry and bathroom, plus the respective bedrooms. Ground floor units have private lawn areas whilst the top floors a private balcony.

A common garden area is located to the rear of the units for the use of all tenants. Each unit is allocated a covered car park.

This solid brick block of apartments are in exceptional condition for their age, with minimal capital needed to be injected by the incoming owner.

Coupling a strong historical low vacancy rate and an established clientele base 246 Donnelly street is an exceptional prospect for any serious investor.

The vendor has expressed a genuine desire to sell this asset due to retirement and invite all interest and inspections.

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Property History for 246 Donnelly St, Armidale, NSW 2350

A timeline of how this property has performed in the market
Last Sold
$1,330,000
01 Jul 2021
Listed for Rent
$235/w
17 Aug 2016
  • 01 Jul 2021
    Sold for $1,330,000
  • 23 Jan 2021
    Listed for Sale $1,300,000
  • 05 Oct 2016
    Listed for Sale Not Disclosed
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About Armidale 2350

The size of Armidale is approximately 268.8 square kilometres. It has 41 parks covering nearly 2.3% of total area. The population of Armidale in 2011 was 22,467 people. By 2016 the population was 23,355 showing a population growth of 4.0% in the area during that time. The predominant age group in Armidale is 20-29 years. Households in Armidale are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Armidale work in a professional occupation. In 2011, 59.9% of the homes in Armidale were owner-occupied compared with 57.7% in 2016.

Armidale has 13,623 properties. Over the last 5 years, Houses in Armidale have seen a 52.43% increase in median value, while Units have seen a 49.83% increase. As at 30 November 2024:

  • The median value for Houses in Armidale is $465,171 while the median value for Units is $301,175.
  • Houses have a median rent of $450 while Units have a median rent of $330.
There are currently 93 properties listed for sale, and 16 properties listed for rent in Armidale on OnTheHouse. According to CoreLogic's data, 593 properties were sold in the past 12 months in Armidale.

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