1-13/7 Houison Street
Westmead, NSW 2145

This fully leased residential complex located at 1-13/7 Houison Street, Westmead NSW 2145, offers a unique opportunity to acquire a substantial block of thirteen apartments in a single acquisition. This property represents a rare offering of scale and substance, ideal for investors seeking a high-performing residential investment with strong holding income and significant potential for long-term capital growth.

The property is situated on a prime corner block with a total land area of approximately 911.1 square meters and a frontage of about 22.81 meters. The complex comprises a combination of ten two-bedroom apartments, two one-bedroom apartments, and one studio apartment with an entry on Booth Street, providing a diverse mix of accommodation options.

All apartments feature modern finishes throughout, including kitchens equipped with gas cooking and stone benchtops, complemented by open plan living and dining areas that enhance the living experience. The secure basement car park offers one allocated parking space for each apartment, along with additional visitor parking spaces, ensuring convenience and security for residents and guests.

This property is ideally suited for land banking or investors looking for a strong yield in a rapidly expanding precinct. It is currently generating an annual income of $437,420, with potential to increase to approximately $462,800 per annum, reflecting its strong investment appeal.

Zoned R4 High Density, the site benefits from a floor space ratio of 1.2:1 and a height limit of 15 meters, offering potential for future development or redevelopment opportunities. The location is highly convenient, being approximately 1.3 kilometers from Westmead train station and light rail, and 1.7 kilometers from Westmead Hospital and the Medical Precinct.

The complex is centrally located within close proximity to Parramatta CBD, with Westfield Parramatta just 1.3 kilometers away and Parramatta train station 1.7 kilometers distant, providing excellent access to shopping, transport, and employment hubs.

Current outgoings for the property include water levies of approximately $3,039.57 per quarter, council levies of $2,672.03 per quarter, insurance costs of $8,800 per annum, and land tax of $29,200 per annum. These expenses are important considerations for prospective investors assessing the net return on investment.

This investment opportunity combines scale, location, and income, making it a compelling proposition for investors seeking both immediate returns and long-term capital appreciation in a sought-after Sydney precinct.