Mosman apartment sells at $5.01 million
Sydney had the priciest advised weekend auction sale when $5.01 million was paid for a Mosman penthouse.
The Moruben Road penthouse sold last in 2004 at $2.05 million having first traded in 2002 on completion at $1.85 million.
Mosman's median apartment prices sits as $1,002,500, with realestate.com.au calculating units typically rent for $550 per week with a rental yield of 2.9 percent.
Based on five years of sales, Mosman has seen a compound growth rate of 2.9 percent for units.
Selling agent Jonathon De Brennan marketed the three bedroom, two bathroom apartments as the “jewel in a prestigious boutique complex” of six apartments.
It came with two car spaces.
It came with Middle Harbour views from its Balmoral Slopes location.
The tightly held block’s last sale was $2.7 million in 2016.
The neighbouring penthouse last traded at $1,805,000 in 2003.
Sydney saw a 96 percent success rate at weekend auctions, according to Realestate.com.au.
