191/398-408 Pitt Street, Haymarket NSW 2000

2 bed, 1 bath, 1 car | heritage overlay | ~6.5% gross yield | strong rental demand near CBD | compact floorplan in large complex The buying case rests on yield. At an estimated $1,150 per week rent on a ~$924,000 value, this unit delivers a gross return near 6.5% — well above most central Sydney apartments. That yield is supported by the building’s location within walking distance of the CBD, Chinatown, and universities, ensuring a deep and consistent tenant pool. The inclusion of parking in a tight city-fringe market is a genuine advantage for both owner-occupiers and investors. This property best suits a buyer prioritising cash flow over capital growth, or an investor seeking a low-entry point into a high-demand precinct. The heritage overlay is the primary risk. It restricts external changes and may limit future renovation upside or development flexibility. The building is older and large, so strata levies and the potential for special levies should be carefully reviewed. The floorplan is likely compact, which may deter some owner-occupiers. However, for a buyer comfortable with these constraints, the opportunity is a well-located, income-producing unit in a tightly held market. The strong rental yield and parking offset the heritage limitations, making this a functional investment rather than a renovation play.