Drummoyne apartment is snapped up after the very first inspection
An apartment in a popular inner west suburb has sold after just one inspection following intense negotiations between four eager parties.
A two-bedroom apartment has recorded what might be one of the fastest sales recorded in Drummoyne this year.
It sold for $830,000 via private treaty after only five days on the market. The result was also $10,000 above the price guide.
During the first and only open home, six contracts were issued and 28 groups came and inspected 11/20 Tranmere St.
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Prior to the sale, Belle Property Balmain principal Monique Dower and agent Madeleine Russell were negotiating with four parties, before a Bass Hill couple who plan to live at the property sealed the deal.
Ms Dower said they received plenty of interest in the property from couples and a few investors, who were attracted to a possible $550-$600 per week rental return.
“The apartment was very attractive to a wide range of buyers given its leafy outlook, the study that could double as a third bedroom and a prized double garage,” she said.
The sale comes at the same time the Drummoyne apartment market begins to show promise. Recent CoreLogic data reports the suburb’s unit sector has seen its median sale price increase 1.5 per cent to $1.091 million in the past three months.
This is in contrast to houses in Drummoyne that have seen a 7.5 per cent decrease its median sale price during the same period.
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Originally published as Drummoyne apartment is snapped up after the very first inspection