7/5 Cora Lynn CourtLorne VIC 3232
Property Details for 7/5 Cora Lynn Ct, Lorne
7/5 Cora Lynn Ct, Lorne is a 2 bedroom, 1 bathroom Unit with 1 parking spaces and was built in 1985. The property has a land size of 82m2 and floor size of 60m2. While the property is not currently for sale or for rent, it was last sold in March 2017.
Last Listing description (March 2017)
Two bedroom cottage with expansive ocean views nestled in the Otway ranges only 5 minutes from Lorne, tenanted until January 2018.
This free hold titled cottage is an ideal investment and lifestyle property in time. Currently returning gross rental of 7.1% per annum this property offers options of holiday letting beyond the current lease.
The owners corporation has recently passed a special resolution where the owner can manage their own property offering flexibility not normally available under properties associated with management rights. You also have the option of working with a manager to handle holiday letting and maintenance of the properties.
Property History for 7/5 Cora Lynn Ct, Lorne, VIC 3232
- 07 Mar 2017Sold for $220,000
- 25 Jan 2017Listed for Sale $220,000
- 21 Apr 2010Sold for $180,000
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About Lorne 3232
The size of Lorne is approximately 104.7 square kilometres. It has 13 parks covering nearly 110.1% of total area. The population of Lorne in 2011 was 1,393 people. By 2016 the population was 1,120 showing a population decline of 19.6% in the area during that time. The predominant age group in Lorne is 60-69 years. Households in Lorne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Lorne work in a managers occupation. In 2011, 69.4% of the homes in Lorne were owner-occupied compared with 65% in 2016.
Lorne has 2,660 properties. Over the last 5 years, Houses in Lorne have seen a 81.55% increase in median value, while Units have seen a 23.08% increase. As at 31 October 2024:
- The median value for Houses in Lorne is $1,962,636 while the median value for Units is $947,506.
- Houses have a median rent of $725 while Units have a median rent of $1,029.
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