Co-living asset in Sydney’s inner west sells for $5.45m

The property at 30 Chandos Street in Ashfield consists of a recently renovated block of 19 self-contained studio apartments over two levels, with secure parking for four vehicles. The block sits on a 733sq m site.

It was purchased by a high-net-worth local for $5.45 million in a deal negotiated by Knight Frank agents Anthony Pirrottina, Demi Carigliano and Shirley Fan.

The block of units sold within two weeks of hitting the market, weeks ahead of a scheduled auction.

Mr Pirrottina said the property had generated strong buyer interest, from both local and overseas buyers, particularly those from Asia.

“This sale is more evidence of the strength in transactions for unit blocks this year, including co-living apartment blocks,” he said.

“We believe as an asset class, unit blocks have been the most active segment of the market in 2025.

“Co-living assets continue to be highly sought after due to the strength of the residential market owing to an undersupply of stock, which underpins solid income and capital growth for these investments.

“They are also land tax exempt, which is another attraction for investors.”

Mr Carigliano said the Ashfield block was a modern block that had been recently renovated and extended, which also appealed to investors.

“Location was another big drawcard, with the property situated in a tightly-held inner western Sydney suburb,” he said.

“30 Chandos Street is just 750 metres from the Ashfield train station and retail village, within walking distance to multiple bus routes and Parramatta Road.

“It is also positioned less than 800 metres from the nearest WestConnex entry on Parramatta Road, providing even greater connectivity.

“This particular property also had strong rental income with the potential for further rental upside, if rents are brought up to market levels.”

For more details contact: Anthony Pirrottina, Demi Carigliano or Shirley Fan