16 Ernest StreetLakemba NSW 2195
Property Details for 16 Ernest St, Lakemba
16 Ernest St, Lakemba is a 12 bedroom, 6 bathroom House with 6 parking spaces. The property has a land size of 670m2 and floor size of 115m2. While the property is not currently for sale or for rent, it was last sold in May 2023.
Last Listing description (August 2023)
An outstanding opportunity to suit the shrewd investor & a rare chance to purchase an entire full brick block of 6 x 2 bedroom apartments located on the sought after south side of Lakemba to be sold in one line & situated on approximately 670.3m2 approx land, well maintained & perfectly positioned in a quiet street only footsteps away from Lakemba station, vibrant Haldon Street shopping village/eateries, sought after schools & parkland.
* Building currently rented & returning $98,800 gross per annum (increasing to $101,660 gross as at 25/05/23) with potential for Strata subdivision (subject to Council approval)
* Well presented 2 bedroom apartments with high ceilings, spacious/functional floor plans, tranquil leafy aspects & bonus of 2 having balconies
* Majority of the kitchens & all bathrooms have been renovated, some with recent flooring updates, all have internal laundry provisions & car spaces
* R4 High Density zoning under Canterbury Bankstown Council, currently leased under market value with scope to improve the current yield with further increases
* Location & convenience doesn't get any better with all of the areas amenities, Bankstown Centro & Roselands Shopping Centre all within close proximity
Property History for 16 Ernest St, Lakemba, NSW 2195
- 18 May 2023Sold for $2,300,000
- 08 Apr 2023Listed for Sale SOLD BY BEGETIS ESTATE AGENTS $2,300,000!
- 12 Feb 2019Listed for Rent $350 / week
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About Lakemba 2195
The size of Lakemba is approximately 2.2 square kilometres. It has 11 parks covering nearly 6.7% of total area. The population of Lakemba in 2011 was 15,507 people. By 2016 the population was 17,011 showing a population growth of 9.7% in the area during that time. The predominant age group in Lakemba is 30-39 years. Households in Lakemba are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Lakemba work in a labourer occupation. In 2011, 44.9% of the homes in Lakemba were owner-occupied compared with 39.1% in 2016.
Lakemba has 7,254 properties. Over the last 5 years, Houses in Lakemba have seen a 53.62% increase in median value, while Units have seen a 19.54% increase. As at 31 October 2024:
- The median value for Houses in Lakemba is $1,315,385 while the median value for Units is $486,791.
- Houses have a median rent of $720 while Units have a median rent of $520.
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