1/73 Fairmount Street, Lakemba NSW 2195

Renovated two-bedder in Lakemba | Strong rental yield | Near transport | First-home or investor pick This apartment is competitively positioned for a buyer seeking immediate occupancy with no further capital outlay. The full renovation removes the typical discount applied to dated stock, and the modern kitchen and interiors support both owner-occupier appeal and tenant retention. The 5.73% rental yield is above the suburb average, which strengthens the case for an investor, while the proximity to three train stations and the M5 gives commuting buyers a functional advantage. First-home buyers and downsizers benefit from the low-maintenance layout and the inclusion of two off-street parking spaces, which is uncommon for a unit in this price band. The primary risk is the 2002 last sale date, which suggests limited recent turnover data and may indicate a slower-moving building. The 73-square-metre floor area is adequate but not generous, and buyers should verify the body corporate position and any upcoming special levies. The opportunity lies in the rental yield outperforming the suburb benchmark, which allows an investor to hold with positive cash flow while waiting for capital growth driven by Lakemba’s 14.6% growth trajectory. If buying to occupy, treat this as a long-term hold in a well-connected corridor.