302 Severin StreetParramatta Park QLD 4870
Property Details for 302 Severin St, Parramatta Park
302 Severin St, Parramatta Park is a 11 bedroom, 4 bathroom Unit with 6 parking spaces and was built in 1950. The property has a land size of 429m2 and floor size of 125m2. While the property is not currently for sale or for rent, it was last sold in May 2017.
Last Listing description (May 2017)
JUST REDUCED TO $600,000 NEG
This property has been described as a MONEY MAKING MACHINE and rightfully so with returns well over 6.8% NET per year from student accommodation. *Zoned Commercial* and located a 5 min walk to the CBD this property presents itself with a better income stream than money in the bank and bright possibilities for steady capital gains.
3 Council Registered Flats
11 bedrooms in total (6 up - 5 down)
4 bathrooms
3 kitchens
Above board all legal height rooms
Smoke alarms and emergency exit signs installed
No body corporate
Corner block with side access
Lots of vacant space to build pool or extra apartments
Currently returning over $60,000 per year in income
5 min walk to the CBD and local language schools
Very popular location for tenants and students
Huge opportunity to value add and increase income.
There are many possibilities to operate this premises to your liking, keep it the way it is *residential share house accommodation* with over $60,000 of income per year or let out the 3 flats individually or live in one and manage the rest. There s also plenty of room to the rear of the block to develop and the zoning allows for future business opportunities. A great place to earn a passive income or create your own commercial enterprise.
Contact Darcy Smith on 0400 080 555 for more details or to arrange an inspection.
Property History for 302 Severin St, Parramatta Park, QLD 4870
- 30 May 2017Sold for $570,000
- 29 Oct 2016Listed for Sale $600,000 Neg
- 02 Sep 2015Sold for $580,000
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About Parramatta Park 4870
The size of Parramatta Park is approximately 1.6 square kilometres. It has 4 parks covering nearly 13.9% of total area. The population of Parramatta Park in 2011 was 3,226 people. By 2016 the population was 3,515 showing a population growth of 9.0% in the area during that time. The predominant age group in Parramatta Park is 20-29 years. Households in Parramatta Park are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Parramatta Park work in a community and personal service occupation. In 2011, 29.4% of the homes in Parramatta Park were owner-occupied compared with 29.8% in 2016.
Parramatta Park has 1,922 properties. Over the last 5 years, Houses in Parramatta Park have seen a 41.21% increase in median value, while Units have seen a 65.86% increase. As at 31 October 2024:
- The median value for Houses in Parramatta Park is $583,677 while the median value for Units is $406,749.
- Houses have a median rent of $500 while Units have a median rent of $435.
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