2508/1 Metters Street, Erskineville NSW 2043
2508/1 Metters Street, Erskineville NSW 2043
Top-floor split-level | 2 bed 2 bath 1 car | Boutique 2018 build | City views & rooftop amenity | Strong rental history
This is a genuinely uncommon unit for Erskineville. The dual-level layout with separate living and sleeping zones gives it a house-like feel inside an apartment shell, while the top-floor position and city outlook add a layer of privacy and light that most inner-city flats lack. The building itself is architect-designed, recently completed, and well-specified—oak floors, stone benches, Miele appliances, ducted air—so it competes with new stock rather than the older walk-ups that dominate the suburb. It suits a professional couple or downsizer who wants low-maintenance living without sacrificing space or a sense of home, and the secure parking, lift access, and shared rooftop garden make it genuinely convenient rather than just compact.
The property has been rented three times since its 2021 sale, which suggests consistent tenant demand and gives some comfort on income potential if it’s ever leased again. Its value may be shaped by how the split-level layout is perceived—some buyers prefer single-level simplicity—and by the fact that it’s an apartment, so land content is minimal and capital growth will track the building’s quality and the suburb’s broader appeal rather than land scarcity. The flood overlay flagged on a different unit in the building shouldn’t be assumed to apply here, but it’s worth confirming during due diligence. The 2021 purchase price of $1.05M provides a reference point, though market conditions have shifted since then, so the current expectation should be formed against recent comparable transactions in the building rather than that older figure.
Detailed Independent Property Report prepared by PropCred Analyst team for 2508/1 Metters Street, Erskineville NSW 2043
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Erskineville, an inner-city Sydney suburb a short distance from the CBD, holds strong positional appeal, with location and lifestyle underpinning demand from professionals and owner-occupiers. House prices sit at $1.90–$1.95 million, with annual growth ranging from 1.5% to 4.6% depending on the data source; units are softer at a $1.05 million median, falling 3–5% annually. Houses move quickly, averaging 23 days on market, with 88–102 sales over the past year. Yields are thin for houses at 2.7–2.9%, but units offer a stronger 4.5–4.7%. The market is trading below its long-term trend, indicating undervaluation, yet conditions are fragile: house auction clearance is 45%, well under the NSW average of 67%. Future direction hinges on interest-rate movements and sales volume trends, with affordability and rate sensitivity the key constraint.
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PropCred Estimated Value
Comparable Sales: 2509/1 Metters Street sold via private treaty; 1508/1 Metters Street leased recently | Property Price Band: $1.2M–$1.3M | Value Drivers: Top-floor position, split-level layout, building quality and amenities
Bedrooms
2
Bathroom
2
Parking
1
Land
2609m²
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