49 Colin StreetLakemba NSW 2195
Property Details for 49 Colin St, Lakemba
49 Colin St, Lakemba is a 14 bedroom, 8 bathroom Unit with 3 parking spaces and was built in 1970. The property has a land size of 740m2 and floor size of 67m2. While the property is not currently for sale or for rent, it was last sold in October 2023. There are other 14 bedroom Unit sold in Lakemba in the last 12 months.
Last Listing description (December 2023)
Tightly held, blue chip investment block of 8 units comprising of 6 x 2 bedroom & 2 x 1 bedroom units in prime location sitting on a healthy 740sqm block of land. Some standout features include:
- 6 x 2 bedroom & 2 x 1 bedroom units
- Most units have large, updated eat-in kitchens
- All units have internal laundrys & balconies
- Solid full brick construction
- 3 garages & 5 carspaces
- R4 high density zoning
- Frontage: 15.24m Land size: 740sqm
- Potential gross return of 6.8% based on projected rental return
The property is under rented and has an existing annual rental income of $102,180 (unit 2 is vacant) with potential rental upside to increase rents in line with market and current demand to $173,680 (conservatively)
Golden opportunity for the astute investor to capitalise on this affordable offering and reap the rewards to unlock this properties potential.
Outgoings:
Council rates: $7,100 p/a approx
Water rates: $10,000 p/a approx
CONTACT: Marc Dissinger 0413 750 868 or marc@ralphfirst.com.au
Property History for 49 Colin St, Lakemba, NSW 2195
- 07 Oct 2023Sold for $2,715,000
- 11 Sep 2023Listed for Sale Deceased Estate | Price guide: $2,500,000
- 24 Aug 2023Sold
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0About 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 7,167 properties.
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