6B Connelly StreetPenshurst NSW 2222
Property Details for 6b Connelly St, Penshurst
Last Listing description (October 2022)
I.B Property is pleased to offer this development/investment opportunity in Penshurst. Consisting of 12 generous apartments all with parking, this property presents a unique opportunity to value add via refurbishment, strata or develop (STCA).
Well presented, this unit block features 9x 2 bedroom aparments and 3x 1 bedroom apartments with balconies and car spaces. With favourable R4 High Density Residential zoning & 12m height limit, there is future development potential.
Key Highlights
- Strata upside
- Large land area of 886sqm* with development upside (STCA)
- Under rented complex with projected gross income of $245,000 per annum
- Ideal location with railway station across the road
- 2km from Westfield Hurstville.
Property History for 6b Connelly St, Penshurst, NSW 2222
- 20 Jun 2022Listed for Sale Contact Agent
- 22 Dec 2016Sold
- 01 Apr 2005Listed for Rent - Price not available
Recent sales nearby
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0About Penshurst 2222
The size of Penshurst is approximately 2.5 square kilometres. There are 13 parks, covering nearly 9.3% of the total area. The population of Penshurst in 2016 was 12786 people. By 2021 the population was 12592 showing a population decline of 1.5% in the area during that time. The predominant age group in Penshurst is 20-29 years. Households in Penshurst are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Penshurst work in a professional occupation.In 2021, 60.60% of the homes in Penshurst were owner-occupied compared with 60.70% in 2016.
Penshurst has 5,937 properties. Over the last 5 years, Houses in Penshurst have seen a 7.24% increase in median value, while Units have seen a 18.67% increase. As at 31 July 2026:
- The median value for Houses in Penshurst is $1,749,175 while the median value for Units is $733,000.
- Houses have a median rent of $900 while Units have a median rent of $620.
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