359 Concord RoadConcord West NSW 2138
Property Details for 359 Concord Rd, Concord West
Last Listing description (December 2024)
RWC Western Sydney is pleased to present 359 - 361 Concord Road, Concord West for sale.
Representing a unique investment opportunity to acquire an entire mixed-use complex, comprising of 12 units and 3 retail/ commercial areas to be sold in one line.
Currently, units 1-6 and 8-11 (10 units in total) are leased to NSW Land and Housing Corporation on a two (2) years lease term expiring on 1 January 2025.
Commanding an impressive three (3) street frontage site, the complex is fully leased with a passing net income of $556,965* per annum with scope to increase.
Strategically located in the affluent Concord suburb, only 350m* to Concord Hospital, walking to proximity to local retail shops and the vibrant Majors Bay Road retail precinct.
Additional highlights of the property are outlined below:
Favourable unit mix (3 x 3 bedrooms, 6 x 2 bedrooms, 2 x 1 bedroom and 1 x studio)
25 Security Car spaces
Rooftop terrace with panoramic city views
Three street frontages for enhanced accessibility (Concord Road, Boronia Street & Currawong Lane)
Significant potential for rental uplift after headlease expiration in January 2025
230m* to Concord West Public School
350m* to Concord Hospital
1.1km* to Concord West Train Station
Close Proximity to Sydney Olympic Park, Burwood CBD, and the M2 Motorway
This is an ideal opportunity for investors, strata sell down groups and housing providers looking to capitalise on the current housing shortage, rising rents and migration boom.
The property will be offered for sale via Private Treaty.
For more information, please contact the exclusive selling agents.
* Approximately
Property History for 359 Concord Rd, Concord West, NSW 2138
- 04 Oct 2024Listed for Sale CONTACT AGENT
- 03 Jun 2024Sold
- 13 Dec 2019Listed for Rent $230 / week
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0About 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 2,508 properties. Over the last 5 years, Houses in Concord West have seen a 39.80% increase in median value, while Units have seen a 30.84% increase. As at 30 November 2024:
- The median value for Houses in Concord West is $2,706,361 while the median value for Units is $909,733.
- Houses have a median rent of $1,000 while Units have a median rent of $595.
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