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Sold on 21 Oct 2024 for $2,200,000

61 Ridge Street
Merewether NSW 2291

Bedrooms: 5
Bathrooms: 5
Car spaces: 5
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Property Details for 61 Ridge St, Merewether

61 Ridge St, Merewether is a 5 bedroom, 5 bathroom BlockOfUnits with 5 parking spaces. While the property is not currently for sale or for rent, it was last sold in October 2024. There are other 5 bedroom BlockOfUnits sold in Merewether in the last 12 months.

Building Type
BlockOfUnits
Local Government
Newcastle
Lot/Plan
143/8/DP111243

Last Listing description (October 2024)

Creating a sensational opportunity within one of Newcastle's most desirable beachside suburbs, this property consists of five side-by-side units on a generous 522sqm. parcel, enviably positioned just 450m back from the beach. Long held by one owner, the units are well-maintained within their original condition, delivering a practical layout. Whether you choose to renovate, leave the units as is, or knock down and rebuild, there is just so much potential here in a truly incredible location. With the bakery right next door, it's a short stroll down to the beach, ocean baths and the ever-popular Merewether Surfhouse. For a dazzling selection of dining options, The Junction and Darby Street are moments away, with the rest of Newcastle's vibrant CBD just beyond. This is one opportunity you simply cannot afford to miss!

* Five one-bedroom units on 522sqm. parcel perfectly positioned within relaxed coastal setting
* Leave as is, renovate or knock down and rebuild (SCTA) to really make the most of this remarkable position

* Units sit side-by-side, with units 1-3 on ground level, and 4 & 5 above five-car carport
* Interior features kitchen overlooking open-plan, balcony, robed bedroom and bathroom
* Handy built-in storage in entry hall
* One covered carport per unit
* Located next to the bakery and coffee shop
* Just 450m from Merewether Beach and ocean baths
* Popular Beach Hotel and Mereweather Surfhouse and Beach Bar an easy stroll away
* Nearby access to the start of Yuerlarbah Track to explore Glenrock Reserve
* Dining and shopping opportunities nearby in The Junction and Darby Street
* Major shopping at Marketown and Westfield Kotara
* Around five minutes' drive to central Newcastle's shops, restaurants and small bar scene

Council Rates: $4,427 PA approx
Water Rates: $3,870 + Usage PA approx
Rental Potential: $1,750 PW approx

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Property History for 61 Ridge St, Merewether, NSW 2291

A timeline of how this property has performed in the market
Last Sold
$2,200,000
21 Oct 2024
Listed for Rent
$330/w
25 Aug 2022
  • 21 Oct 2024
    Sold for $2,200,000
  • 30 Sep 2024
    Listed for Sale Auction Guide $2,000,000
  • 01 Aug 2022
    Listed for Rent $320 / week
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About Merewether 2291

The size of Merewether is approximately 6.4 square kilometres. It has 19 parks covering nearly 49.5% of total area. The population of Merewether in 2011 was 10,468 people. By 2016 the population was 10,971 showing a population growth of 4.8% in the area during that time. The predominant age group in Merewether is 20-29 years. Households in Merewether are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Merewether work in a professional occupation. In 2011, 63.1% of the homes in Merewether were owner-occupied compared with 63.3% in 2016.

Merewether has 5,770 properties. Over the last 5 years, Houses in Merewether have seen a 68.47% increase in median value, while Units have seen a 50.83% increase. As at 31 October 2024:

  • The median value for Houses in Merewether is $1,873,081 while the median value for Units is $861,605.
  • Houses have a median rent of $795 while Units have a median rent of $580.
There are currently 30 properties listed for sale, and 13 properties listed for rent in Merewether on OnTheHouse. According to CoreLogic's data, 259 properties were sold in the past 12 months in Merewether.

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John Kerr
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DALTON PARTNERS - The Junction
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