2/941 Botany Road, Rosebery NSW 2018

Art Deco original condition | 1 bed plus study | 554m² site share | Flood overlay | Bus metres away This unit presents a rare, unrenovated canvas within a tightly held Art Deco block on a substantial land parcel, offering a value entry into a well-located Rosebery pocket. Its configuration is competitively strong, providing a separated study that effectively mimics a second bedroom, enhancing utility and rental appeal. The property serves a specific buyer profile: an owner-occupier seeking a character project with scope to add significant value, or an investor capitalising on the high rental yield from a basic offering while banking on long-term land value appreciation within the Bayside Council area. Proximity to immediate amenities, multiple childcare options, and public transport establishes a fundamental convenience that underpins demand. The decision hinges on accepting material risk with commercial logic. The flood overlay introduces insurance cost and potential financing complications that directly impact holding costs. The requirement for total renovation demands immediate capital expenditure, with the art deco fabric potentially escalating refurbishment expenses beyond standard fit-outs. However, the building’s sales history demonstrates a clear compression of value for unrenovated units, creating a discounted purchase point. The strata’s stability, evidenced by majority long-term ownership, reduces the risk of speculative levies. Proceed only with a deliberate strategy to renovate for hold, as the cost of delay in improving this original condition will erode equity against comparables. Recent sales within the same building provide a direct value benchmark: – 1/941: Sold $425,000 (Apr 2023), now listed at $590,000 – 7/941: Sold $510,000 (Aug 2022) – 4/941: Sold $430,000 (Apr 2017) – 5/941: Sold $295,000 (Dec 2011) This data confirms a significant premium for renovated or updated units, with the 2022 sale at $510,000 setting a relevant ceiling. The subject unit’s original state places its value proposition firmly below the most recent sale, aligning it closer to the lower end of the spectrum. This disparity quantifies the renovation opportunity and establishes a clear comp for negotiation.