1/23 Victoria Avenue, Penshurst NSW 2222

1/23 Victoria Avenue, Penshurst NSW 2222
2 bedroom, 1 bathroom, 1 car | Low-rise small block | Flood overlay present | Owner-occupier tenure This apartment sits in a well-maintained, older-style low-rise block, a configuration that is increasingly sought after by buyers who prefer established strata living over high-density towers. The small-block scale, low stair access, and freshly renovated interior make it a strong fit for downsizers and owner-occupiers looking for light-filled, low-maintenance living near transport and school catchments. The long owner-occupier tenure reported in the building is a positive signal of stable demand and community quality, which may support ongoing value retention in this pocket of Penshurst. The flood overlay affecting the property may be a material factor for buyers and lenders, potentially influencing insurance costs or long-term risk perception. The lack of verified orientation or exact floor level means the unit’s natural light and privacy cannot be fully assessed without inspection. While the recent sale of a similar unit in the same block at $650,000 provides a useful benchmark, any price view should weigh the overlay exposure against the quality of the renovation and the building’s established owner-occupier base.
Detailed Independent Property Report prepared  by PropCred Analyst team for 1/23 Victoria Avenue, Penshurst NSW 2222
Checks found:
Value Risk ! 1
Liquidity Risk ! 1
Planning Risk ✕ 2
Income Risk ✓
Execution Risk ! 1
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Market Insight

Penshurst presents a compelling, established residential proposition within the Georges River area, benefiting from significant nearby infrastructure renewal. Demand is demonstrably stronger for houses, which transact more swiftly than units, indicating a clear preference for this housing type. The market for houses exhibits robust price growth, while the unit segment remains comparatively stable. Future prospects are underpinned by major local redevelopment projects enhancing amenity, though the divergence in performance between houses and units is a key market dynamic.
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PropCred Estimated Value

Bedrooms

2

Bathroom

1

Parking

1

Land

943m²

Research & Review Prepared by Brian Moon, Analyst · Reviewed by Matt Proctor, Principal Analyst
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