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534 Punchbowl Road, Lakemba NSW 2195

$1,199,000

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$1.2M - $1.26M Transparent Transparent Listing Based on an openly advertised listing price.

House 3 Beds 1 Bath 1 Car 417 m²

Listed: 58 days ago

Updated: 7 hours ago

Overview

Situated on a prominent corner block in Lakemba, this property offers a blend of immediate income potential and long-term value enhancement opportunities. The existing family home, constructed with fibro and tile, provides a solid base with its three bedrooms and ample living areas, offering space that could be revitalised or redesigned according to future aspirations.

One of the key benefits is the generous 417.4 square metre land parcel, zoned R4 High Density Residential, which opens a variety of possibilities for redevelopment or renovation, making it an attractive prospect for investors or developers aiming to capitalise on the area's growth.

The property currently accommodates long-term tenants paying $585 per week, ensuring consistent rental returns and the ability to maintain tenancy if desired. Side access to the backyard and an onsite caravan add functional outdoor options, while features such as the fully fenced yard, corner location, and outdoor entertaining area enhance lifestyle comfort and privacy.

Convenience is at the heart of this location, directly opposite Parry Park and only a brief 150-metre stroll to the notable Lakemba Mosque. The future transformation of Lakemba Station into a Metro Station just 1.1 kilometres away further accentuates this property's appeal by improving connectivity and accessibility.

Solid three-bedroom fibro/tile family home with original kitchen and bathroom
Spacious living areas ideal for everyday family life or renovation projects
Generous land size featuring R4 zoning, prime for redevelopment subject to approvals
Secure rental income with long-term tenants currently in situ
Conveniently located near key community landmarks and transport hubs

This opportunity is well-suited for investors seeking immediate returns with the flexibility for future capital growth, or home buyers with a vision to renew an established property in a thriving neighbourhood.

Local Market Insights

In Lakemba, Quiet Listings observed 5 new houses entering the market over the last 30 days, down from 6 during the previous 30-day period, with an average advertised asking price of $1,420,000. The property type mix of listed properties is predominantly Houses at 45%, followed by units (27%), and apartments (27%). The most active agency for houses in the Lakemba area is currently Ray White, representing 80% of new listings, followed by Raine & Horne with 20%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.