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RECENT ADVICE
Sold on 12 Oct 2024 for $4,800,000

162 Queen Street
Concord West NSW 2138

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 841m2
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Strathfield Partners Real Estate
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Property Details for 162 Queen St, Concord West

Building Type
Land
Year Built
1930
Land Size
841m2
Local Government
Canada Bay
Lot/Plan
20/DP8976

Last Listing description (October 2024)

Strathfield Partners are pleased to offer 162 Queen Street, Concord West to the market for sale via Auction. This offering represents an exciting opportunity for developers or investors to acquire a premium parcel of land with sixteen (16) self-contained studios, all fully leased in the heart of Concord West.

The property consists of:

* 16 Self-contained studios

* All rooms have 1 bathroom with shower
* All rooms have a polyurethane kitchenette with gas cooktop
* All rooms have mirrored built-in wardrobes
* Communal laundry
* Gas, water and internet are included in the rent (Head lease)
* 4 basement parking
* Site area 844 m Approx.
* FSR 0.5:1
* Height of Building: 8.5 m
* Zoned R2: Low Density Residential
* Currently returning $244,985.00 per annum (Net Profit)

This property presents an excellent investment opportunity, boasting long-term tenancy and a high occupancy rate. Strategically positioned for convenience, it's just a short walk from shops, cafes, schools, and transport, offering low-maintenance living with accessibility at your doorstep.

The location is prime, being only an 8-minute drive to Rhodes Shopping Centre and 11 minutes to Burwood Westfield. Commuters will appreciate the easy CBD access via the M4, just 16 minutes away by car, and the train station is a mere 10-minute walk. This property is ideal for investors seeking a stable and appealing option with its strategic location and robust demand.

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Property History for 162 Queen St, Concord West, NSW 2138

A timeline of how this property has performed in the market
Last Sold
$4,800,000
12 Oct 2024
Listed for Rent
$300/w
21 Mar 2022
  • 12 Oct 2024
    Sold for $4,800,000
  • 17 Sep 2024
    Listed for Sale SOLD $4,230,000
  • 29 Dec 2022
    Listed for Rent $350 / week
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About Concord West 2138

The size of Concord West is approximately 2.7 square kilometres. It has 11 parks covering nearly 5.6% of total area. The population of Concord West in 2011 was 5,848 people. By 2016 the population was 5,906 showing a population growth of 1.0% in the area during that time. The predominant age group in Concord West is 40-49 years. Households in Concord West are primarily couples with children and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Concord West work in a professional occupation. In 2011, 76.7% of the homes in Concord West were owner-occupied compared with 75.5% in 2016.

Concord West has 2,494 properties. Over the last 5 years, Houses in Concord West have seen a 45.97% increase in median value, while Units have seen a 20.32% increase. As at 30 September 2024:

  • The median value for Houses in Concord West is $2,591,713 while the median value for Units is $894,528.
  • Houses have a median rent of $998 while Units have a median rent of $620.
There are currently 11 properties listed for sale, and 9 properties listed for rent in Concord west on OnTheHouse. According to CoreLogic's data, 88 properties were sold in the past 12 months in Concord west.

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