10% annual growth as Cabramatta unit sells as $351,000 weekend cheapie

10% annual growth as Cabramatta unit sells as $351,000 weekend cheapie
Jonathan ChancellorNovember 30, 2014

There were three bidders when 37/89-91 Hughes Street, Cabramatta went to weekend auction.

The first floor recently renovated 61 square metre two bedroom apartment fetched $351,000.

The 1974 built apartment was marketed as an entry level perfect home for first home buyers or an ideal investment with potential rent of $320 per week.

Peter Ly of Raine & Horne Cabramatta told Property Observer it sold to an investor. 

It last sold in 1998 at $66,000, reflecting 10% annual growth over the 16 years.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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