28/38 Shoreline Drive, Rhodes NSW 2138

Studio with 1.8 acres | North-west water views | Turn-key condition | 5.8% yield potential This unit presents a rare configuration: a studio apartment on a substantial 1.8-acre land parcel, offering permanent water views and a north-west aspect from a private position. The turn-key condition and strong estimated rental yield near 6% create immediate appeal for an investor seeking low-maintenance entry, while the unique land holding suggests underlying value not typical for apartments. It serves best as a hold-for-income investment with a speculative angle on the land component’s future utility. The primary risk is the illiquidity inherent in atypical properties; the large, shared land title may complicate financing and future sale to conventional apartment buyers, potentially capping capital growth. The 10.7% price increase over a decade significantly underperforms broader market averages, indicating stagnant historical performance. Proceed only if the current yield justifies a long-term hold, treating the land as a non-performing bonus unless strata records reveal development plans.