909/1 Corinna Street, Phillip ACT 2606

| North aspect on high floor | New build 2024 | Two parking spaces included | Rental cover below $650/week threshold | Rates burden high for block This property carries a structural risk in the rates structure the unimproved value of the block is high at $6.23 million and the residential rates bill sits at $35,715 annually; buyers must factor this into holding cost calculations as it reduces net rental yield below the market median of 5.3 percent. The opportunity lies in the north-facing orientation and double-glazed full-height windows which maximise natural light and thermal efficiency with an EER of 6, reducing energy costs over time. The judgment is this unit works best as a long-term hold in the Woden town centre where median prices for two-bedroom units sit at $585,000, meaning the $579,000 listing offers modest entry but no arbitrage. The competitive strength here is the new build status from 2024 with resort-style amenities and two parking spaces in a town centre location where such allocations are rare; this directly improves resale appeal compared to older stock. The key features that matter for a buyer’s position are the 83 square metre internal area and high exposed concrete ceilings which give a sense of space beyond typical new apartments, and the proximity to Phillip Post Office and CIT which supports tenant demand. This property serves best a buyer seeking a low-maintenance owner-occupier base or a secure rental income stream with capital growth from the Woden urban renewal corridor. To proceed, request the full body corporate documents and rates notice from the agent to confirm the annual outgoings before any offer; the rates alone can shift your monthly budget by nearly $3,000.