25 Railway Pde, Taree is a 8 bedroom, 4 bathroom Unit and was built in 1960. The property has a land size of 1012m2 and floor size of 345m2. While the property is not currently for sale or for rent, it was last sold in June 2022.
Return and opportunity are seldom found in the one property, but the iconic "Pink Palace" provides scope for both.
After 32 years the current owner is looking to liquidate her assets and this block of 4 x 2 bedroom units situated on over a 1000sqm lot boasts a potential gross return over $45,000/ annum.
There is definitely scope for renovation and future improvements can only add to the capacity for return and value of the property.
The size of Taree is approximately 47.8 square kilometres. It has 44 parks covering nearly 5.7% of total area. The population of Taree in 2011 was 15,848 people. By 2016 the population was 16,214 showing a population growth of 2.3% in the area during that time. The predominant age group in Taree is 60-69 years. Households in Taree are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Taree work in a professional occupation. In 2011, 59.7% of the homes in Taree were owner-occupied compared with 58.5% in 2016.
Taree has 9,601 properties. Over the last 5 years, Houses in Taree have seen a 58.27% increase in median value, while Units have seen a 40.60% increase. As at 31 October 2024:
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