3/18 Ocean Street, Penshurst NSW 2222
3/18 Ocean Street, Penshurst NSW 2222
2-bed 1-bath 1-car | station-village walk | updated interiors | renovation upside | established block
A solid entry into Penshurst’s established apartment market is provided by this unit. Competitive advantage is found in its updated interiors and open-plan layout, where move-in readiness is offered while renovation potential is retained. Daily convenience is delivered by the location near the station and shopping village, a factor by which first-home buyers and downsizers are consistently drawn. Small households and investors are suited by the two-bedroom, one-bathroom, one-car configuration. As a practical, low-fuss property, it is best served by balancing modern comfort with future upside.
Perceived value is likely to be influenced by floor level and aspect, as a premium is often commanded by top-floor units. Long-term appeal may be affected by the building’s age and lack of lifestyle amenities, though lower strata fees are often associated with older complexes. Significant value could be added through thoughtful renovation, but costs should be weighed against final resale. Steady demand is suggested by market context rather than rapid growth, so conservative price expectations may be maintained.
>> Comparable Sales: 3 Ocean Street sold $640,000 (2017); 3/73-75 Ocean Street sold $800,000 | Property Price Band: $600K–$700K | Value Drivers: updated interiors, station walkability, renovation upside
Detailed Independent Property Report prepared by PropCred Analyst team for 3/18 Ocean Street, Penshurst NSW 2222
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
1
URL has been copied successfully!
Market Insight
Penshurst, in Georges River LGA, is an established market where houses clearly outperform units. House demand is stronger, selling in about 50 days versus 74 for units, with moderate turnover of 22 houses and 15 units in the past quarter. Median house prices sit near $2 million, with annual growth reported between 3.1% and 11.9%; unit medians are around $700,000, showing slight declines or flat conditions. Gross rental yields are thin for houses at roughly 2.4–2.5%, while units yield about 4.4–4.6%. Future growth is supported by the $1 billion Hurstville redevelopment and upgrades to Penshurst Park and the Hurstville Aquatic Leisure Centre. Key constraints are thin house yields and softening unit prices, despite stronger unit rental returns.
URL has been copied successfully!
PropCred Estimated Value
Bedrooms
2
Bathroom
1
Parking
2
Land
1027m²
URL has been copied successfully!