37/1 Shirley Street, Alexandria NSW 2015

Prime location | tight-hold complex | strong rental yield | north-facing terrace This apartment in the tightly held Phoenix complex offers a rare combination of full-brick construction and 97m² of space in a building where most units are owner-occupied, signalling a stable, well-maintained property. The north-facing terrace and open-plan layout with separate dining zones provide genuine indoor-outdoor living rarely found in Alexandria apartments. It is best suited for an owner-occupier seeking long-term lifestyle convenience or an investor targeting the 45% renter pool in a suburb where 50% of residents are aged 20–39, a demographic that drives consistent demand for quality two-bedroom units near Green Square. The main risk is the flood overlay detected on the property, which may affect insurance premiums and future resale appeal to cautious buyers. The 2014 last sale date suggests limited recent price discovery, though the building’s low turnover (98 properties, 5 recent sales) supports price stability. Opportunities lie in the 77% auction clearance rate for Alexandria, indicating strong market absorption. Hold this property for rental income with potential capital growth driven by proximity to Green Square Station and UNSW.