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Sold on 28 Oct 2024 for $420,000

507/653-659 George Street
Haymarket NSW 2000

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Floor area: 29m2
Land area: 79m2
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Property Details for 507/653-659 George St, Haymarket

507/653-659 George St, Haymarket is a 1 bedroom, 1 bathroom House and was built in 2000. The property has a land size of 79m2 and floor size of 29m2. While the property is not currently for sale or for rent, it was last sold in October 2024. There are other 1 bedroom House sold in Haymarket in the last 12 months.

Building Type
House
Year Built
2000
Floor Size
29m2
Land Size
79m2
Local Government
Sydney
Lot/Plan
40/SP67007

Last Listing description (October 2024)

Unit 507, 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 $71,677* (July 23 - June 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 $71,677*
- 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 507/653-659 George St, Haymarket, NSW 2000

A timeline of how this property has performed in the market
Last Sold
$420,000
28 Oct 2024
  • 28 Oct 2024
    Sold for $420,000
  • 19 Sep 2024
    Listed for Sale $420,000
  • 12 Aug 2002
    Sold for $238,341

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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 6,165 properties. Over the last 5 years, Houses in Haymarket have seen a 50.24% increase in median value, while Units have seen a -6.42% decrease. As at 31 October 2024:

  • The median value for Houses in Haymarket is $2,139,915 while the median value for Units is $1,087,838.
  • Houses have a median rent of $1,100 while Units have a median rent of $1,150.
There are currently 39 properties listed for sale, and 58 properties listed for rent in Haymarket on OnTheHouse. According to CoreLogic's data, 171 properties were sold in the past 12 months in Haymarket.

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