$408,000 Lakemba apartment ranked as Sydney's cheapest weekend apartment auction outcome

It last sold at $210,000 in 2003, meaning the sale represents a near doubling in value
$408,000 Lakemba apartment ranked as Sydney's cheapest weekend apartment auction outcome
Jonathan ChancellorApril 25, 2021

A modernised 91 sqm unit at Lakemba with a lock up garage was Sydney's cheapest weekend auction sale.

The 1970s apartment came with a storeroom/home office.

The 12/586 Punchbowl Road Lakemba offering was offered through Ray White Punchbowl agents Kamal Ali and Sam Mehedi.

The two bedroom, one bathroom apartment went to auction with a $360,000 price guide.

It was marketed as having a very high rental potential.

It comes with strata fees of $615 per quarter.

 

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.

Editor's Picks

First home buyers jump at Victoriana apartments on Melbourne's Albert Park
Sekisui House Australia approved for Dawn, the latest stage at $5 billion Melrose Park masterplan
Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown
Aurora On Depper, St Lucia: Construction Update
R.Iconic: A Lifestyle-First Masterpiece in Melbourne