28/765 Princes Highway, Blakehurst NSW 2221

Potential buyer risk focused | Below median valuation but still near $2M | No major environmental hazards | Strong rental demand near $850/week This property presents a clear opportunity if you value space and location over yield. The $1.8M to $2M valuation sits above Blakehurst’s median unit price by nearly double, meaning you pay a premium for the 205m² lot, two car spaces, and a garage—features rare in apartment complexes. The 1996 build avoids newer strata defects but lacks the capital growth upside of a house in the same suburb, where medians exceed $2.5M. The risk is holding costs outweigh rental return at $850 weekly, unless you intend to occupy or renovate. The judgment here is buy only if you plan long-term occupancy or can add value; as an investment, the yield is thin. What makes this competitive is the sheer space—three bedrooms, two bathrooms, and that garage in a bayside complex with an in-ground pool. Units this size near Bald Face Public and Blakehurst High are scarce, appealing to families or downsizers wanting lock-and-leave convenience without a house price. The absence of bushfire, flood, or heritage overlays lowers insurance and compliance costs, a quiet win for buyers. This suits someone prioritising comfortable living over short-term profit, ideally a professional couple or small family in Sydney’s south. Given the limited comparable sales data available, note that a similar flat in the area last sold in August 2024, reinforcing a stable market floor near $1.9M—use this to anchor your offer, not chase the top of the range. The next step is to inspect the complex’s strata records for sinking fund health and any recent special levies, as older builds can surprise with maintenance costs that eat into that location premium.