$450,000 Newtown studio the weekend's cheapest Sydney sale

$450,000 Newtown studio the weekend's cheapest Sydney sale
$450,000 Newtown studio the weekend's cheapest Sydney sale

A $450,000 Newtown studio apartment - sold pre-auction to an investor - was the weekend's cheapest Sydney sale.

Currently rented at $330 a week, it had a likely market rental of around $370, its McGrath selling agent Braden Walters suggested.

A 3.8% gross yield, maybe 4.2% if the rent goes up.

Beyond its secure heritage facade, the second floor 31 sq m Enmore Road apartment comes with shared rooftop terrace.

It last sold at $220,000 in 2003, reflecting six percent annual growth.

It was just one of seven weekend sales across Sydney at $500,000 or below with another passed in unsold at Auburn at $418,000.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Auctions Sydney

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