13/23-29 Gladstone Street, Kogarah NSW 2217

2 bed, 1 bath, 2 car spaces | Gladstone St, Kogarah | End unit in small block | Strong owner-occupier tenure signals stability This unit sits in a tightly held building where the average owner stays nearly 14 years, a rare signal of genuine livability and low turnover friction. The two car spaces are a material edge for Kogarah, where off-street parking is often compromised in older strata blocks. With a 1566m² site and no bushfire or flood overlay, the land component carries latent redevelopment optionality, though strata title caps that. The buyer here is a professional couple or downsizer wanting a low-maintenance base with parking and school catchment access, not an investor chasing yield. The key risk is the pricing delta between the $890,000 ask and recent estimates ranging from $720,000 to $836,000, suggesting either overhang or a vendor with firm expectations. Unit 12 sold for $870,000 in December 2025 with four car spaces, so this unit must justify a premium without that advantage. Rental return at $695 weekly median gives a gross yield near 4%, acceptable but not compelling. The opportunity is in the building’s low churn and the fact that comparable sales show steady capital growth from $440,000 in 2012. Hold this unit as a long-term owner-occupier base, not a flip, and the parking and location will underwrite value retention.