San Remo three bedder Sydney's most affordable sale at 5% gross yield
Joel RobinsonDecember 7, 2020
The most affordable property sold in Sydney at auction this weekend was a three bedroom home in San Remo.
Advertised by selling agent Andrew Sorensen of Raine & Horne as "a great place to start" the home is perfect for first time buyers.
Andrew had a price guide of over $300,000 for the property before the $355,000 sale at auction.
He gave the property an average rental return of between $345 and $370 per week, which is an average gross rental yield between 5.05% and 5.42%.
San Remo is a suburb of the Central Coast, 108 kilometres away from the Sydney CBD.
The property features a large outdoor terrace and garden space.
The property last traded in 2009 for $269,950, an annual appreciation of 4.39%.
Joel Robinson
Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.