3/216 Ocean Street, Narrabeen NSW 2101

Ground floor | north-facing | 100m to sand | boutique block of 12 | 55sqm internal | 2-bed with parking This unit offers rare ground-floor access in a small block steps from Narrabeen Beach, making it a strong entry point for first-home buyers or downsizers wanting immediate coastal living without stairs. The north-facing orientation and recent cosmetic updates reduce immediate outlay, while the exclusive parking space adds practical value in a beachside strip where visitor parking is limited. Its compact 55sqm footprint suits owner-occupiers prioritising location over space, or investors targeting the 3.1% suburb yield with lower vacancy risk given the beach proximity. The main risk is the 70% renter profile in the building, which can affect lending appetite and long-term amenity standards. The 1993 purchase price and lack of recent comparable sales for this unit make valuation less transparent, though the Nov 2024 unit sale at $800k and Sep 2025 unit at $950k provide a plausible band. No capital growth data exists for this specific unit, so buyers should underwrite to the suburb average of 11.1% and hold for at least five years to cover transaction costs. Use this as a lifestyle-driven hold with moderate upside, not a flip.