28/128 Macquarie Street, Parramatta NSW 2150

Corner unit with dual aspect | Large 112 sqm internal | Direct light rail stop | Flood overlay noted This unit presents a competitively sized two-bedroom offering within the Parramatta CBD, distinguished by its above-average internal area of 112 square metres and a practical L-shaped balcony that provides dual-aspect living. Its position directly adjacent to the Parramatta Light Rail stop embeds a permanent transport advantage, servicing a tenant pool drawn to Western Sydney University and the commercial precinct. The configuration best serves an investor seeking a durable rental, given the documented demand from students and professionals, or a first home buyer prioritizing space over luxury finishes in a high-amenity location. The well-defined kitchen and separate bathroom amenities, while not premium, align with the functional expectations of the target market. The primary decision mechanism is the flood overlay, which imposes an insurance cost and potential finance scrutiny, directly impacting holding costs and liquidity. The mixed-use zoning and 211-metre height limit signal substantial future development pressure in the precinct, which may enhance long-term land value but also implies construction disruption. Given the established strata complex and the unit’s functional rather than luxurious appeal, the commercial logic is to acquire for hold, leveraging the strong yield near 5.3% and the below-median price point suggested by comparable sales. This is a positional holding in a transforming CBD, not a short-term value-add opportunity. Recent nearby sales for two-bedroom units provide context: 2/1/1 with a 1953m² land share sold for $570,000 after 10 days on market. Other comparable transactions in Parramatta, North Parramatta, Harris Park, and Westmead, while lacking specific prices, confirm active demand in this segment. This transaction evidence supports a valuation for the subject property that is likely competitive within the established $560,000 to $570,000 range, reinforced by its larger internal area and superior transport adjacency.