Corner block in Sydney's Rozelle sells $1 million above reserve

A corner block in Sydney’s inner west suburb of Rozelle fetched $5.3 million at auction recently, more than $1 million above its reserve price.

The 610-612A Darling Street property comprises three adjoining terraces and three retail shops and has a total land area of nearly 493 sqm.

The three residential flats earn a steady rental income. The property is fully leased with a gross income of approximately $249,440 pa + GST.

The property was sold through Raymond Hung of Raymond Hung Real Estate at June 30 Cooley Auction.

In addition to excellent exposure, the property is very near to Rozelle weekend markets.