3/154 Park AvenueKotara NSW 2289
Property Details for 3/154 Park Ave, Kotara
3/154 Park Ave, Kotara is a 0 bedroom, 0 bathroom Unit. The property has a land size of 8237m2 and floor size of 883m2. While the property is not currently for sale or for rent, it was last sold in August 2022.
Last Listing description (August 2022)
Positioned in a popular suburban commercial, bulky retail and residential area, the property offers a substantial investment opportunity with a long term tenant returning $66,012.84* net per annum plus GST. The current tenant, Motorserve are an established car servicing and insurance business servicing the greater Newcastle region. They are currently on a 5 year lease due to expire on 31 January 2025 with a further 5 year option in place with a market review if they are to exercise the option.
- Located in popular suburban commercial, bulky retail and residential area
- Close proximity to Westfield and the Kotara Homemaker Centre
- Long lease in place to established tenant
- 21 allocated car parking spots
- Neighbouring businesses such as Reece Plumbing, Searle Street Medical Centre, Celebrations, Creative Childcare and Active Hair and Beauty
*Approximately
Property History for 3/154 Park Ave, Kotara, NSW 2289
- 24 Aug 2022Sold for $2,775,000
- 20 Apr 2022Listed for Sale Contact Agent
- 30 Oct 2007Sold for $2,310,000
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About Kotara 2289
The size of Kotara is approximately 2.6 square kilometres. It has 18 parks covering nearly 20.1% of total area. The population of Kotara in 2011 was 3,916 people. By 2016 the population was 3,928 showing a population growth of 0.3% in the area during that time. The predominant age group in Kotara is 40-49 years. Households in Kotara are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Kotara work in a professional occupation. In 2011, 81.7% of the homes in Kotara were owner-occupied compared with 80.9% in 2016.
Kotara has 1,872 properties. Over the last 5 years, Houses in Kotara have seen a 69.56% increase in median value, while Units have seen a 64.67% increase. As at 31 October 2024:
- The median value for Houses in Kotara is $966,003 while the median value for Units is $785,031.
- Houses have a median rent of $700 while Units have a median rent of $650.
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