1/98 Lake StreetNorthbridge WA 6003
Property Details for 1/98 Lake St, Northbridge
Last Listing description (October 2022)
[ 3D Virtual Tour available, follow the link ] Rare opportunity to secure a leased investment this close to the Perth CBD with a strong sitting tenant. Ticks plenty of boxes for the astute investor. Key attributes:- 128 sqm of ground floor strata area- Sold with a Lease in place to Chung Wah Association (Tenant)- Sold as a Going Concern- Annual Net rent of $44,412.71 with fixed annual 4% increases - Tenant has options until 30 June 2030- Chung Wah is well established community care provider for over 110 years*- Currently used as the Chung Wah's Head Office (combined with adjoining Unit 2)- Long standing Tenant. Been in occupation since 2015- Tenant completed a substantial brand-new fit out in 2021 - Mixed use building developed by Finbar. A reputable Perth property development companyStrata Area: 128 sqm Approx.OFFERS INVITED FROM $799,000 - NOW CLOSED Contact Max Vaghella to request a copy of the Information Memorandum.
Property History for 1/98 Lake St, Northbridge, WA 6003
- 31 Aug 2022Sold for $825,000
- 28 Jul 2022Listed for Sale Offers from $799,000
- 30 Oct 2015Sold for $750,000
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0About Northbridge 6003
The size of Northbridge is approximately 0.4 square kilometres. There are 3 parks, covering nearly 7.2% of the total area. The population of Northbridge in 2016 was 1307 people. By 2021 the population was 1420 showing a population growth of 8.6% in the area during that time. The predominant age group in Northbridge is 20-29 years. Households in Northbridge are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Northbridge work in a professional occupation.In 2021, 31.10% of the homes in Northbridge were owner-occupied compared with 34.00% in 2016.
Northbridge has 1,313 properties. Over the last 5 years, Houses in Northbridge have seen a 62.24% increase in median value, while Units have seen a 62.06% increase. As at 31 May 2026:
- The median value for Houses in Northbridge is $1,143,204 while the median value for Units is $744,449.
- Houses have a median rent of $515 while Units have a median rent of $750.
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