$450,000 Newtown studio the weekend's cheapest Sydney sale
Jonathan ChancellorDecember 7, 2020
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 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.