38/21-23 Myrtle Street, Botany NSW 2019
38/21-23 Myrtle Street, Botany NSW 2019
Large 3-bed 2-car flat | dual-level layout | Botany’s investor demand | flood overlay flagged | school catchment
The property stands out for its rare configuration of three bedrooms and two car spaces within a modern complex, a combination that commands a premium in the inner-south apartment market. The dual-level layout further differentiates it, offering a floorplan that appeals to professional couples or small families seeking space without moving to a house. This positioning is considered competitively strong, as it serves both owner-occupiers wanting lifestyle convenience and investors chasing stable rental yields from a well-connected suburb like Botany
The flood overlay is the primary risk and should be investigated carefully-insurance premiums and resale discounts are possible. However, it may also present a buying opportunity, as less informed or risk-averse buyers might overlook the property, allowing a negotiable entry point. The recent sale of a similar unit in the building at $1.15 million confirms local demand, and the estimated value of $1.357 million suggests upside if the flood risk is manageable. Rental income above $1,000 per week provides a solid foundation, making this property viable for those who complete thorough due diligence
Detailed Independent Property Report prepared by PropCred Analyst team for 38/21-23 Myrtle Street, Botany NSW 2019
Checks found:
Value Risk
!
1
Liquidity Risk
✕
2
Planning Risk
!
1
Income Risk
✓
Execution Risk
✓
Market Insight
Botany presents a compelling blend of industrial proximity and residential appeal, attracting downsizers, investors, and entry-level buyers seeking a live-work lifestyle near major employment hubs. Demand is underpinned by significant forecast population growth, which starkly outpaces new housing supply, creating competitive market conditions. While recent price growth has been modest, placing values below their long-term trend, the fundamental supply-demand imbalance suggests strong future upward pressure, though affordability and constrained development remain key constraints.
PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
3908m²
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