23 Ormond Street, Paddington NSW 2021

Victorian terrace, four-bedroom layout | Harbour-view courtyard, elevated northerly position | Ready to move in or renovate | Paddington’s Five Ways edge This property occupies a rare position in the Paddington market: a four-bedroom Victorian terrace with genuine outdoor space and harbour light, on a block that widens toward the rear. The existing configuration — separate lounge and dining, a kitchen with gas and Miele, a travertine main bathroom, and a versatile studio with ensuite — means it competes immediately with both turnkey homes and those requiring work. For a buyer seeking a long-term family home or a high-end rental with strong yield potential, the 186m² land and 95% building coverage offer unusual interior volume for the suburb. The elevated aspect and northerly courtyard give it a light and privacy profile that most terraces in this price tier lack. The heritage overlay is the primary constraint — any renovation will require Woollahra Council approval, which adds time and cost but also protects the street’s value floor. The land size variance across sources (164–186m²) signals potential boundary or measurement issues worth verifying before exchange. The council and water rates are modest for the bracket. The buyer should treat this as a hold-and-enjoy property: renovate only if capital gains justify the stamp-duty and holding cost, otherwise move in and let the market do the work.