1/36 Campbell Street, Wollongong NSW 2500

1975-built unit | 59m² footprint | flood overlay present | 718m² shared land | recent comparable sale This unit presents a competitively priced entry into a well-established Wollongong location, with its two-bedroom configuration and recent internal upgrades like air conditioning and a dishwasher aligning with core rental demand. The substantial 718m² parcel of land, while strata-titled, indicates a lower-density complex setting that retains a sense of space uncommon in newer developments. This specific property is positioned for an investor seeking stable yield, given the strong estimated rental return against the purchase price, or a budget-conscious owner-occupier who values the school catchments and fibre internet as practical livability factors over premium finishes. The primary decision point is the identified flood overlay, which necessitates immediate due diligence on insurability costs and potential premium loadings, directly impacting holding costs and future resale liquidity. The 1975 construction date mandates a thorough building inspection to assess capital expenditure risk for retained systems. The commercial logic rests on acquiring below current median unit valuations for the area, banking on the land component and scarcity of larger-block complexes to provide a defensive floor. Proceed with a conditional offer contingent on flood and building checks, as a hold for medium-term yield with a view to incremental renovation. Recent sales activity for this specific property provides a clear value trajectory: * April 2013: $290,000 * June 2015: $340,000 * February 2018: $462,000 * March 2023: $520,000 This history demonstrates consistent capital growth, with the 2023 sale establishing a direct, recent benchmark. For a buyer today, it anchors the valuation conversation and suggests paying above this last sale price requires justification through either market-wide appreciation or a superior condition not reflected in that transaction.