2 Phillips Street, Auburn NSW 2144

corner block dual occupancy | separate access and meters | investor or multigenerational setup | Auburn train station 1.3km The property’s primary advantage is its fully separate granny flat with its own street frontage, lock-up garage, and independent utilities. This configuration is rare on a corner block of this size in Auburn and gives a buyer immediate options: two rental incomes with no shared facilities, or a self-contained space for extended family. The main house is functional with a study and updated kitchen, but the granny flat is the competitive edge. It suits an investor seeking a higher-yield dual-income holding or a family wanting privacy without moving. The location near Auburn station and good school proximity supports consistent tenant demand. The risk is the property’s age and the need to verify the granny flat’s council approval status, as any non-compliance would limit financing and resale. The corner block’s high building coverage leaves minimal outdoor space, which may deter some owner-occupiers. However, the separate meters and dual access reduce management friction, and the recent sale price suggests room for modest capital growth in a tightening market. Hold for rental yield and optionality; the granny flat alone covers a meaningful portion of holding costs.