3/46 Bayswater Street, Drummoyne NSW 2047

3-bedroom penthouse in 4-unit block | Owner-occupied building with zero renters | Positioned over Drummoyne Oval with bay views | 2 secure parking spaces on 674m² lot This property offers a rare combination of a designer penthouse in a tightly held, fully owner-occupied building of only four units, which typically signals strong building management and a quiet, stable environment. The uninterrupted views over Drummoyne Oval and Parramatta River, along with two parking spaces, are features that command a premium in this market. For a buyer seeking a low-maintenance, high-quality home in a blue-chip suburb with strong owner-occupier demand, this apartment presents a compelling option, particularly for families wanting proximity to Drummoyne Public School. The primary risk is the significant gap between the current asking price and recent valuation estimates, suggesting a potential overhang from the 2013 purchase price. The limited sales history and absence of recent comparable sales in the building make precise valuation difficult, requiring a buyer to rely on broader Drummoyne market data, where the median is $1.875m and auction clearance sits at 58%. A buyer should approach with a firm price ceiling, using the 2013 sale as a baseline and the current market median as a reference, and consider holding for medium-term capital growth given the scarcity of such owner-occupied stock in this location.