10-14 River StreetUlmarra NSW 2462
Property Details for 10-14 River St, Ulmarra
10-14 River St, Ulmarra is a 19 bedroom, 19 bathroom Unit with 10 parking spaces and was built in 1998. The property has a land size of 2651m2. While the property is not currently for sale or for rent, it was last sold in May 2019.
Last Listing description (May 2019)
GROSS RETURN ON ASKING PRICE: 7.75 % p.a.
NET RETURN ON ASKING PRICE: 6.45% p.a. (Net of listed expenses, see detailed below)
RETURNING $2460 PER WEEK ( 9 x 2 BED, 1 x 1 BED)
Each individual rent at 10-14 River St is well below the local market median of $300-$330 per week, and affordable housing is very easy to rent out and hold tenants in!
This property combines the high returns of commercial real estate without the risk of having rent-free months between tenants.
Built in 1982, the complex features 9 x 2 bedroom 1 bathroom brick townhouses and an additional 1 x 1 bedroom residence plus individual carports. Each townhouse enjoys its own private laundry, an additional toilet, and river views from a spacious upstairs verandah.
There is plenty of green space on site, the original approval is for 15 townhouses to be built, meaning you still have space to develop STCA. A gorgeous riverside park across the road (Bailey Park) is a lovely neighbour to have and the village Police Station, Hotel/Restaurant and primary school are all within easy 3 blocks walk or less. The Commercial Hotel has a riverside restaurant that is very well regarded.
Current tenant mix is quite diverse with singles and couples of various ages. When vacant flats have taken an average of about 21 days to fill since the current owners bought in 2014, this means when a tenant gives notice (usually required to be 21 days) you can have a new tenant arranged before the old one has moved out.
Annual Rent:
Tenants pay weekly - $2460 per week
U1 $250pw, U2 $260pw, U3 $230pw, U4 $240pw, U5 $240pw, U6 $250pw, U7 $260pw, U8 $240pw, U9 $250pw, U10 $240pw
TOTAL ANNUAL RENT: $127 920 (No GST applicable).
Annual Expenses:
Council Rates: $1711 per year (CVC 2019 FY)/176500
Council Rubbish Bins: $1279 per year (CVC $319.65 per qtr)
Water Usage: $3000 per year (estimate, varies, paid quarterly)
Septic System Maintenance: $12 000 per year ($460 per fortnight)
Landlord Building Insurance: $3360 per year (Hollard Insurance cover exp. Dec 2018)
TOTAL LISTED EXPENSES: $21 350 PER YEAR
Property History for 10-14 River St, Ulmarra, NSW 2462
- 29 May 2019Sold for $1,530,000
- 01 Feb 2019Listed for Sale $1,650,000
- 05 Oct 2018Listed for Sale $1,765,000
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0About Ulmarra 2462
The size of Ulmarra is approximately 60.3 square kilometres. The population of Ulmarra in 2016 was 779 people. By 2021 the population was 749 showing a population decline of 3.8% in the area during that time. The predominant age group in Ulmarra is 60-69 years. Households in Ulmarra are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Ulmarra work in a managers occupation.In 2021, 68.80% of the homes in Ulmarra were owner-occupied compared with 62.90% in 2016.
Ulmarra has 420 properties. Over the last 5 years, Houses in Ulmarra have seen a 46.66% increase in median value, while Units have seen a 38.57% increase. As at 31 December 2025:
- The median value for Houses in Ulmarra is $575,038 while the median value for Units is $424,810.
- Houses have a median rent of $430 while Units have a median rent of $350.
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