125/15 Irving Street, Phillip ACT 2606

Premium location trade-off | dated complex for price | 2nd park adds rare value | amenities attract renter ceiling This unit carries a measured risk: while the Ivy complex commands premium strata fees near $6,000 annually, the North-facing orientation and 12m² balcony mitigate that by locking in natural light and outdoor use that lower-floor units cannot replicate. The dual parking is a structural advantage in Phillip, where off-street parking is scarce. You are effectively paying a carry cost for amenity access rather than square meterage, and the 90-102m² internal area is competitive but not exceptional. The property holds best as a long-term hold for a professional couple or downsizer who will use the pool and gym, not as a speculative flip; the 6% suburb growth over 12 months is steady, not explosive, and the 2017 purchase price of $475k shows capital gain accumulation rather than step-change appreciation. The competitive strength here is the two side-by-side car spaces, a rarity in structured apartment living that creates an immediate buyer premium over single-park comparables within the complex. The 12m² balcony is generous for a 2-bedroom unit and the designer kitchen with Smeg appliances speaks to finishes that hold value in resale. This property best serves a professional couple or investor seeking reliable tenant demand at 660-690 per week, where the low vacancy rate of 1.4% in Phillip supports occupancy. The EER rating of 6 confirms energy costs are not a drag, and the Walk Score of 87 means car reliance is optional, which shifts the holding cost equation favorably. Comparable units in the Ivy complex have transacted between 620k and 670k over the past six months, with similar floorplans and balcony dimensions. The current listing negotiates within that band. For a buyer, the premium over those sales is justified only by the second parking space and the North-facing position; without either condition, the price guidance should sit at the lower end of that range.