21/36A Macleay Street, Elizabeth Bay NSW 2011

Harbour views | boutique block | north-east aspect | tightly held Elizabeth Bay | premium finishes This property offers a rare combination of north-east facing harbour views and a designer interior within a small boutique building, which is a competitively strong position in Elizabeth Bay. The tightly held nature of the block and the premium finishes mean the unit stands apart from typical apartment stock in the area, serving buyers who prioritise immediate lifestyle quality and long-term scarcity over sheer size. The balcony orientation and outlook are the primary differentiators here, giving the buyer a clear edge in a market where 56% of auctions clear and inventory is low. The heritage overlay imposes no practical cost on the buyer, as the building is already compliant and no bushfire or flood risk exists. The main risk is the 65% renter ratio in the building, which can affect building management and common area condition over time. However, the low recent sales volume in the block suggests limited turnover pressure, which works in the buyer’s favour for holding value. The rental yield estimate of $1,060 per week offers a solid floor for an investor, but the property is best held as a primary residence or pied-à-terre where the views and aspect are fully enjoyed.