4.8% rental yield prospect at Parramatta's cheapest weekend sale
Joel RobinsonDecember 7, 2020
A $325,000 one bedroom Harris Park, Parramatta apartment was the weekend's cheapest Sydney auction sale.
Last traded for $210,000 in 2011, the ground floor apartment comes with a master bedroom and en-suite.
The sale - at 9.65% annualised price appreciation - was secured by Nick Scognamiglio and David Lao of Starr Partners Parramatta.
Having been rented for $300 per week in 2011, the selling agents suggested the market rent for 1/16A Wigram Street would still be a $300 per week rental, a gross rental yield of 4.8%.
Located at the back of an established complex, the unit is in walking distance to vibrant Harris Parks shops, restaurants and public transport.
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.