3/299 Belmont Street, Alexandria NSW 2015

Heritage terrace flat | 4-unit block | Alexandria school catchment | Auction 30 May This property offers an uncommon combination: a two-bedroom flat in a four-unit block, which means lower density and fewer neighbours than typical apartment buildings, and a heritage overlay that preserves the streetscape and often limits future competing developments nearby. The location within the Alexandria Park Community School catchment and proximity to Erskineville Public School adds family appeal, while the 50/50 owner-renter split in the building suggests a stable mix of residents. The strong rental yield estimate of $885 per week, supported by 77% auction clearance in the suburb, points to genuine demand. This flat suits an owner-occupier wanting a foothold in a tightly held inner-city pocket, or an investor seeking a low-maintenance holding with reliable tenant interest. The heritage overlay is the primary constraint: any renovation will require council approval, which can delay works and add costs, and the small strata of four units means limited sinking fund contributions and potential for special levies if major repairs arise. The wide value estimate range from $950,000 to $1,478,946 signals uncertainty, so the buyer should not rely on rapid capital growth. The opportunity lies in buying below the top end of that range at auction, where low competition from the short marketing period may work in the buyer’s favour. Hold this property for steady rental income and moderate long-term appreciation, and avoid overpaying for speculative upside.