34/344 Bulwara Road, Ultimo NSW 2007

Quiet city-fringe pocket | 105m² with standout terrace | secure garage plus storage | strong rental yield near 5% | serves owner-occupiers and investors alike. This unit’s competitive edge lies in its rare combination of generous internal area and a substantial private outdoor terrace, both unusual for an inner-city apartment. The secure lock-up garage with extra storage removes a common friction point for city buyers, while the modern updates and shared pool reduce immediate capital outlay. It positions well for professionals or downsizers seeking a low-maintenance, high-amenity base near universities, transport, and Darling Harbour, and the 4.7% rental yield makes it equally viable for an investor targeting steady cash flow in a tight rental market. The primary risk is the strata levy at over $2,000 per quarter, which directly erodes net yield and may signal future special levies for the pool or building envelope—a building inspection is non-negotiable. The suburb’s slight price decline of 1.2% suggests limited short-term capital growth, so the buyer’s return depends on rental income and holding period. Opportunity lies in below-market negotiation given the recent listing and past sale at $865,000; a purchase near that level would lock in a strong yield. Hold this property for stable income and lifestyle use, not for rapid appreciation.