2/58 Kareela Road, Cremorne Point NSW 2090
2/58 Kareela Road, Cremorne Point NSW 2090
Quietly sought-after unit address | Three-bedroom apartment format | Tightly held Cremorne Point pocket | Strong ferry and school access | More accessible than nearby houses
This unit holds a genuinely useful position within Cremorne Point’s premium apartment stock. A three-bedroom, two-bathroom configuration with parking is rare in this suburb, where much of the strata supply leans toward two-bedroom layouts. The property offers a lower-maintenance alternative to the large Federation houses nearby, yet still delivers the same blue-chip peninsula lifestyle. It is best suited to downsizers wanting to stay in the area without house upkeep, professional couples seeking easy CBD access, or investors targeting scarce lower North Shore supply. The street itself mixes apartments and prestige homes, so the unit benefits from established neighbourhood character without the heritage burden that often applies to freestanding houses here. School catchments and ferry proximity add practical weight for family buyers.
Value may be shaped by the building’s age and presentation, as older strata stock can carry higher ongoing levies and less modern interiors. The unit’s floor level, aspect, and natural light will matter significantly, since these influence both liveability and resale appeal. Heritage controls in the surrounding area might limit future alterations, but they also protect the suburb’s character. Rental demand appears steady, though yields are likely modest given the high capital value. Buyers should weigh the trade-off between a prime address and the condition of the existing interior, as renovation potential could justify a premium or indicate discounting depending on the current state.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/58 Kareela Road, Cremorne Point NSW 2090
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
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Market Insight
Cremorne Point sits on Sydney’s Lower North Shore, a prestige enclave where median house prices range from $4.98m to $6m. Demand is driven by affluent professionals aged 30-39, mostly childless couples with high mortgage repayments exceeding $4,000 monthly; owner-occupiers make up 53.2%. Harbour views and limited supply—only 7-12 house sales annually—underpin pricing. Recent growth is flat to negative: 0.3% per one data set, -20.7% per another, reflecting rate sensitivity and affordability constraints. Units offer a lower entry at $1.75m, with a 2.59% gross yield versus 1.58% for houses. Ferry and bus links, plus strong school catchments like Neutral Bay Public, support long-term demand. The primary risks are high-price elasticity and thin market liquidity.
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PropCred Estimated Value
Comparable Sales: nearby 3-bed units in the immediate area have transacted around $2.4M | Property Price Band: $2.3M–$2.4M | Value Drivers: floor level, aspect, interior condition, and parking allocation
Bedrooms
3
Bathroom
2
Parking
-
Land
1090m²
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