1/28 Grosvenor Street, Neutral Bay NSW 2089

Renovated strata townhouse | Neutral Bay village edge | 154sqm internal on 640sqm block | Wraparound courtyard with established gardens. The property offers a rare combination of generous internal space and a private, sun-washed courtyard within a small strata block of five, placing it well above typical apartment offerings in the same price band. Its position in the heart of Neutral Bay, steps from shops and transport, serves professional couples or downsizers seeking low-maintenance living without sacrificing distinct living and dining areas, a home office, and secure double parking. The 85% owner-occupier ratio in the building supports stable, well-maintained common property, and the renovated interiors reduce immediate capital outlay for a buyer. The primary risk is the 19-year ownership gap since the last sale at $815,000, which may create a wide gap between vendor expectations and current market evidence, given the mid-estimates cluster around $2.57–$2.625 million. The strata arrangement on a 640sqm block limits future land value uplift compared to a standalone house, and the 15% rental presence introduces minor tenancy turnover risk. For a buyer, the opportunity lies in negotiating from a position of low urgency,seven days on market without a price guide,and securing a property that holds well as a long-term residence or a stable rental yielding around 3.17%. Hold for lifestyle and capital preservation, not short-term speculation.