30/16 New South Wales Cres, Forrest ACT 2603

Tight yield | large site with development risk | older unit with higher fees | EER 6.0 below newer stock The purchase price is supported by a 5% gross rental yield on achievable $770 per week rent but this return is eroded by high land tax of over $100,000 annually if rented and body corporate fees likely above average for a 2-bedroom unit given the building age and services. The rising land value on the 3920m² block gives speculative upside but also introduces a risk of redevelopment pressure that could disrupt long-term holding. For a buyer this property is best treated as a lifestyle buy with moderate income potential rather than a growth-driven investment core. The unimproved value of $8.7 million indicates the land is the dominant asset not the structure making this a rare opportunity to hold land in Forrest at a unit price point. The north-facing balcony and generous 87m² internal space are genuine differentiators in this market segment as comparable apartments typically offer 30% less living area. This property is best suited to a downsizer or professional couple who want inner-south convenience without strata fatigue who should prioritise inspecting recent building records for upcoming special levies before proceeding further. The 2021 sale at $730,000 compared to the current listing near $1.1 million shows 10% annual growth over four years which is above Canberra apartment averages but is justifiable given the land component and Forrest postcode. A buyer should verify whether this price trajectory reflects true market gain or overhang from the vendor’s recent $1,050,000 ask that may have softened. This data supports a fair value around $1.05 million making the listed price negotiable by up to $50,000.