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Overview
This distinctive property at 30 Margaret Street, Mayfield East offers a unique investment opportunity through a fully leased block comprising four flats. Set on a substantial 1057 square metre lot, this asset has been held by the same family for over four decades, underscoring its rarity and enduring appeal in a sought-after Newcastle suburb.
The property features a total of seven bedrooms and four bathrooms distributed across multiple self-contained units. Each flat provides individual living spaces, combining comfort with functional layouts that cater well to tenants seeking privacy and convenience. The collection includes two older flats with multiple bedrooms alongside a duplex pair constructed in the early 1990s, each with modern updates including kitchens and bathrooms, notably with one unit refreshed as recently as 2024.
Parking is also well catered for, with three dedicated car spaces including lock-up garages for added tenant convenience and security. Outdoor living is enhanced by private courtyards and fully fenced grounds, offering safe and pleasant environments.
Positioned in a quiet street, the block enjoys proximity to local shopping precincts and community amenities such as the public swimming pool and bowling club, while public transport links provide easy access into the Newcastle CBD. This accessibility combined with a stable rental income of approximately $92,000 per annum, with growth potential to exceed $100,000, makes the property a compelling prospect for investors seeking consistent returns and long-term capital growth.
Overall, 30 Margaret Street stands out as a substantial residential holding offering multiple income streams. Its blend of established tenants and scope for rental enhancement positions it attractively for those aiming to invest in a reliable, well-located Newcastle property.
Local Market Insights
In Newcastle And Lake Macquarie, Quiet Listings observed 25 new apartments entering the market over the last 30 days, down from 27 during the previous 30-day period, with an average advertised asking price of $1,142,840. The property type mix of listed properties is predominantly Houses at 74%, followed by units (5%), and apartments (4%). The most active agency for apartments in the Newcastle And Lake Macquarie area is currently Walkom Real Estate, representing 24% of new listings, followed by Wilton Lemke Stewart with 16%. 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.
Location
Market Insights for Mayfield East NSW 2304
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