17/40 Ocean Street, Narrabeen NSW 2101

Northeast sea breezes | 167sqm with dual balconies | 4 car spaces rare | 90% owner-occupier building The property’s configuration is its primary competitive advantage: a 167-square-metre floorplate with front and rear balconies capturing cross-flow northeast sea breezes is rare in Narrabeen’s apartment market. Four allocated car spaces further differentiate it, effectively serving a buyer who needs multi-vehicle parking or sees storage value. The building’s 90% owner-occupier ratio signals stable tenure and lower turnover risk, which suits an owner-occupier seeking long-term lifestyle amenity. An auction scheduled in late May places the buyer in a controlled timeline, but the zero auction clearance rate for Narrabeen three-bedroom units this year suggests limited competitive pressure at auction, potentially favouring a disciplined bid. The primary risk is the building’s lack of recent comparable sales data, which reduces price discovery transparency and may require the buyer to rely on the single March 2025 sale at 14/40 Ocean Street as a benchmark. The 2015 purchase price of $2.35 million provides a historical floor but does not reflect current market conditions. The property has been listed only five days, indicating limited marketing exposure; a buyer could use this to negotiate pre-auction if vendor motivation is unclear. The demographic skew toward residents aged 60+ (38%) and long-term owners (40%) suggests limited rental turnover, which may constrain future capital growth if buyer demand narrows. Hold this property for owner-occupation to capture the lifestyle premium; its size and parking make it a poor rental yield play.