39/2-6 Abbott Street Coogee NSW 2034

Top-floor renovated unit | tranquil living with enclosed balcony | 1km to Coogee Beach | high owner-occupier strata block This top-floor, fully renovated unit offers a competitively rare configuration of space and tranquility within a large, well-located strata building. The enclosed balcony and spacious living areas extend the functional footprint, appealing directly to owner-occupiers seeking a low-maintenance coastal lifestyle or to investors targeting the strong rental demand evidenced by the building’s high tenant occupancy. Its position in a block with a significant owner-occupier share suggests a generally stable and well-maintained communal environment. The primary financial risk is the substantial strata title, with 46 units potentially complicating capital works planning and cost control. The flood overlay necessitates specific due diligence on insurance premiums and potential future levies. For a buyer, the opportunity lies in acquiring a modernised, turnkey property in a high-clearance suburb, with the commercial logic of holding for both capital appreciation aligned with historical building growth and securing a ~$1,000 weekly rental yield. Proceed with an offer strategy informed by a Propcred report to validate the real market valuation against comparable sales, detail strata health, and clarify all locality risks and insurance implications. Recent sales within the same building at 2-6 Abbott Street provide a clear value benchmark: – Unit 10 sold for $1,525,000, showing 4.24% annual growth over two years. – Unit 37 sold for $1,451,000, achieving 6.95% annual growth over seven years and currently renting for $1,100 per week. – Unit 1 sold for $1,407,000, with 5.75% annual growth across sixteen years. This data confirms consistent long-term capital growth in the building, supporting the current asking price. The achieved rental for Unit 37 suggests the estimated $1,040 per week for this property is commercially sound.