204/20 Wellington Street, Narrabeen NSW 2101
204/20 Wellington Street, Narrabeen NSW 2101
3 bed 2 bath 2 car | 2000-built strata | resort amenities | medium flood risk | mixed-use scheme
This unit offers a genuinely rare configuration in Narrabeen—a full three-bedroom, two-bathroom apartment with two secure car spaces in a 49-lot scheme that includes gym, rooftop terrace, and internal courtyard. The 26-year-old building is well past initial settling issues, and the mix of 45 residential and 4 commercial lots creates an active, lived-in feel rather than a purely investor-held block. The buyer this suits best is a downsizer or a local move-up owner seeking lock-and-leave coastal living without sacrificing space or parking. With 65% owner-occupiers in the suburb, demand is steady and quality-driven, not speculative. The second-floor position likely offers a balance of outlook and accessibility, though the exact aspect is not confirmed.
The medium flood risk flagged for the building site may influence insurance premiums and should be weighed carefully, though it is not unusual for lakeside Narrabeen. The building’s age means capital works levies are foreseeable—plumbing, electrical, and facade repairs are common at this stage, and one strata source notes significant expenditure expectations. The mixed-use component adds management complexity, but also commercial vitality. Rental demand appears healthy, with a same-building two-bedroom achieving $950 per week, suggesting strong income potential if leased. Value will hinge on the unit’s internal condition, its specific outlook, and how the strata’s financial reserves are positioned for upcoming maintenance.
Detailed Independent Property Report prepared by PropCred Analyst team for 204/20 Wellington Street, Narrabeen NSW 2101
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
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Market Insight
Narrabeen, on Sydney’s Northern Beaches, remains a tightly held coastal market: just 27 house sales in the past year, 60 days on market, and a median price of $4.25m after 41.67% annual growth. Units are softer – median $1.21m, down 6.56% annually, with 179 sales and 42 days on market. Long-term fundamentals are stronger: 5.8% compound growth over 36 years and a 130.8% decade gain to $1.985m. Lifestyle demand keeps pressure on freehold stock, but 59.5% of properties are strata-titled, limiting supply. Rental yields are modest: 2.43% for houses and 3.39% for units, with weekly rents of $898 and $825 respectively. Future appreciation hinges on rate settings; the market sits below its long-term trend, though recent stabilisation suggests a floor.
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PropCred Estimated Value
Comparable Sales: 501/20 Wellington Street sold $3.31M; 202/20 Wellington Street purchased $1.351M | Property Price Band: $1.6M–$1.7M | Value Drivers: internal condition, floor level outlook, strata capital works position
Bedrooms
3
Bathroom
2
Parking
2
Land
3025m²
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