21 Residential Dwellings (21×3-bedroom);
One title;
Net passing income of $207,996*pa; and
Scope to strata title (S.T.C.A).

LOCATION

The subject property is located on the eastern side of Edith Street, Kingswood between its junctions with Edna Street and Edward Street.

Kingswood is located on the eastern approach to Penrith on the Great Western Highway. Kingswood contains a University, a TAFE and the Nepean District Hospital.

The subject property is located approximately:

50km west of Sydney CBD.
30km west of Parramatta CBD.
13km west of the M7 West link.

SITUATION

EDITH STREET

Edith Street and its immediate surrounding comprises a well tightly held residential suburb predominantly made up of detached family homes.

GREAT WESTERN HIGHWAY

The Great Western Highway is located a short distance to the north and provides easy vehicular access to Penrith to the west and St Marys to the east.

UNIVERSITY OF WESTERN SYDNEY

Major employers in the immediate vicinity include the University of Western Sydney.

DESCRIPTION

IMPROVEMENTS

A 21 unit villa development;
Improvements are of brick on concrete slab with concrete tile roof; and
Each dwelling has a single lock-up garage.

TENURE

The estimated income for June 2010 is summarised as follows:

Rental Income:
20 Units: $22,441
1 Vacancy 0

Expenses:
Utilities: ($1,601)
Repairs & Maintenance: ($3,507)

Net Income: $17,333

TITLE DETAILS

Lot 131 in Deposited Plan 809059.
A strata plan is currently being prepared.

SITE AREA

8,559sqm*

TOPOGRAPHY

A reasonably level gradient

PLANNING

LOCAL AUTHORITY

Penrith City Council
T: +61 2 4732 7777 F: +61 2 4732 7958
601 High Street, Penrith, NSW, 2571
www.penrithcity.nsw.gov.au

LOCAL ENVIRONMENTAL PLAN

Penrith Local Environmental Plan 1998.

ZONING

2(d) Residential (medium density).

DEVELOPMENT CONTROL PLAN

Penrith Development Control Plan 2006.

METHOD OF SALE

The property is to be sold by Public Auction at 10:30am on Tuesday the 21st of September 2010.

INSPECTIONS

Tuesdays and Thursdays at 3.45pm if confirmed at least 24 hours in advance.

AUCTION LOCATION

The Sydney Auction Centre, 55 Harrington Street (The Rocks), Sydney NSW 2000.

*Approx.

Property Code: 136