79/20 Close Street, Canterbury NSW 2193

Oversized penthouse | three beds plus study | walk to metro | rare large format unit This property’s primary strength is its atypical size and configuration within the Canterbury unit market, offering a 214 square metre internal floor plan with three bedrooms and a study, a combination that is scarce for strata apartments. This positions it as a long-term family accommodation solution within a low-rise building, effectively competing with smaller townhouses. Its proximity to the metro station and Woolworths underpins its convenience, while the 2025 rental listing signals immediate income viability in a tight rental market. The central risk is the flood planning overlay, which necessitates specific due diligence on insurance premiums and potential future insurability, carrying a tangible annual cost. The estimated 3.5% gross yield is acceptable for a property of this scale but not exceptional. This unit is best acquired as a hold for capital growth driven by its scarcity, or as a high-amenity primary residence. Proceed only after verifying strata health and obtaining a formal flood report. Recent comparable sales data for directly similar oversized apartments is absent, highlighting the property’s uniqueness. The only nearby reference is a house at 20 Close Street, estimated at $2,048,000, which is not a like-for-like comparison but does underscore the land value premium in the immediate locale. This lack of direct comps requires a valuation method based on its utility versus smaller units and townhouses.