SOLD
Sold on 26 Sep 2024 for $410,000

311/653-659 George Street
Haymarket NSW 2000

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Floor area: 31m2
Land area: 79m2
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Property Details for 311/653-659 George St, Haymarket

Building Type
Commercial
Year Built
2000
Floor Size
31m2
Land Size
79m2
Local Government
Sydney
Lot/Plan
32/SP67007

Last Listing description (November 2024)

Unit 311, Mantra Sydney Central -

Inspections available via private appointment, please contact the agent to arrange inspections. Virtual Tour available via this advertisement, please click the link !

Presenting a fantastic opportunity to secure a set and forget investment with incredible returns located in the heart of City CBD, perfect for a long term investment or self managed super fund (SMSF) acquisition.

This fully furnished serviced studio apartment is a managed investment asset currently leased to Mantra Hotels, Sydney Central generating a gross revenue of $85,939.23* (March 23 - Feb 24), with the owner receiving 50% of the apartments revenue, minus expenses and outgoings.

Note: The monthly income, is not fixed & can fluctuate with travel demand and use of the property.

Property Features Include:

- Spacious bedroom with large window and built in wardrobe
- Kitchenette with electric cooktop
- Bathroom with bathtub and tiled floor to ceiling
- Ducted air conditioning

Investment Features include:

- Approx gross annual revenue of $85,939.23*
- Exclusive membership with Accors Partnership Program - Discounted Hotel Rates !
- Exclusive use of the property 14 nights per annum
- Hassle free passive income stream with full management decisions made on your behalf - set & forget !
- Strong occupancy and low vacancy rates
- Affordable property investment in the heart of the CBD & moments from Central Station.
- Inventory of furniture included with the sale of the property

Note: This property is zoned for short term letting and can not be lived in fulltime - For investment purchase only.

Outgoings -

Strata: $1039 per quarter
Council: $243 per quarter
Water: $21 per quarter

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Property History for 311/653-659 George St, Haymarket, NSW 2000

A timeline of how this property has performed in the market
Last Sold
$410,000
26 Sep 2024
  • 26 Sep 2024
    Sold for $410,000
  • 27 May 2024
    Listed for Sale SOLD X TOM JONES
  • 29 May 2014
    Sold for $262,000
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About Haymarket 2000

The size of Haymarket is approximately 0.5 square kilometres. It has 3 parks covering nearly 8.3% of total area. The population of Haymarket in 2011 was 5,376 people. By 2016 the population was 7,364 showing a population growth of 37.0% in the area during that time. The predominant age group in Haymarket is 20-29 years. Households in Haymarket are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Haymarket work in a community and personal service occupation. In 2011, 31.6% of the homes in Haymarket were owner-occupied compared with 25.1% in 2016..

Haymarket has 6,221 properties. Over the last 5 years, Houses in Haymarket have seen a 51.33% increase in median value, while Units have seen a -7.08% decrease. As at 30 November 2024:

  • The median value for Houses in Haymarket is $1,309,339 while the median value for Units is $1,085,276.
  • Houses have a median rent of $1,000 while Units have a median rent of $1,150.
There are currently 35 properties listed for sale, and 61 properties listed for rent in Haymarket on OnTheHouse. According to CoreLogic's data, 174 properties were sold in the past 12 months in Haymarket.

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