3089/185-211 Broadway, Ultimo NSW 2007

Inner-city heritage building | well below suburb median | high rental yield | limited parking or specifics This unit presents a competitively priced entry into the Sydney inner-city rental market, with its listing price significantly below the suburb median for one-bedroom units. The high suburb rental yield of 8.3% and the building’s existing rental activity signal strong investor demand for affordable, centrally located accommodation. The property is best suited for a yield-focused investor, not an owner-occupier seeking amenity or space, given the lack of specific finishes and the basic configuration implied by the low price point and small comparable sales. Its position within a heritage-listed complex offers character but imposes limits on structural alteration. The primary risk is the substantial discrepancy between the 1996 last sale, the 2022 comparable sale of $90,000 for a neighbouring unit, and the current asking price, suggesting volatile or inconsistent value perception within the building. The -68.3% annual growth for Ultimo one-bedroom units underscores a declining market segment, where capital growth cannot be assumed. The opportunity lies in acquiring a cash-flow positive unit at a steep discount to broader suburb prices, with reliable connectivity as a supporting feature. Given the data, this property should be acquired strictly as a high-yield rental holding, with an offer anchored to the recent $150,000 comparable sales. Recent comparable sales within the building establish a clear value benchmark: – 2022/185-211 Broadway (31m²): Sold for $150,000 in November 2025. – Another 1/1 unit (30m²): Sold for $150,000 in November 2025. – A 25m² unit sold in January 2026. These transactions, all materially below the suburb median, confirm this property’s positioning in the market’s most affordable tier and suggest its true value aligns closely with the lower end of its listed range.