2/1 Bellevue Avenue, Lakemba NSW 2195

Flood overlay | Large garage | Growth corridor | Boutique block This property carries a flood overlay that may limit finance options and increase insurance premiums, but the 7-metre lock-up garage is a rare structural advantage in this price bracket, offering secure parking or storage that commands a rental premium. Lakemba’s double-digit annual growth and the recent sale history near $460k suggest the current asking sits above that floor; the decision depends on whether you can negotiate within the estimated $557k-$576k range to preserve upside. Hold for capital growth or lease for a 5% yield, but only if flood risk is acceptable to your lender. The freshly renovated interior with north-facing light, new flooring, and a separate bath and shower offers move-in readiness that typical Lakemba stock lacks, and the 300-metre walk to the station makes this a strong entry-level option for owner-occupiers or investors targeting reliable tenant demand. The boutique block of eight units limits vacancy risk from oversupply and supports steady long-term value. Potential buyers should verify flood overlay specifics with council and obtain a pre-approval that accounts for restricted lending before proceeding to inspection.