Liverpool apartment owners band together for $2.3m sale
Six apartments in Liverpool have been sold in one line at auction for $2,262,500.
The apartments, located at 61 Goulburn St, fall under an existing B4 zoning which allows the address to be redeveloped to include both commercial offices and residential apartments.
Jeff Moxham, Ray White Commercial NSW Metropolitan Sydney Principal said they received 70 inquiries throughout the auction campaign with nine registered bidders battling it out on the day.
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He says assets such as this are very popular at the moment with investors looking for a steady income stream today with the future ‘upside’ either through renovation, development or capital growth.
“Properties are particularly popular in established and growing areas near new infrastructure and the estimated fully-leased income of $102,000 really appealed to potential buyers,” he says.
“The sale reflected a yield on the existing approximate $69,000 per annum income of three per cent.”