394 Cleveland Street, Surry Hills NSW 2010

Original Victorian terrace | First sale in 36 years | North-facing courtyard | Dual access with secure carport | Opposite Surry Hills Village This property presents a rare, tightly held opportunity in a premier inner-city position. Its original condition and classic layout, featuring three bedrooms and a sunroom, cater to an owner-occupier seeking character and a blank canvas. The freestanding eastern aspect, secure rear parking via a laneway, and direct proximity to major dining and retail infrastructure provide a functional and highly convenient living proposition. It is best suited for a buyer valuing land title, heritage charm, and immediate lifestyle over modern finishes. The primary risk is the cost of updating an original home, compounded by heritage overlay restrictions. The single bathroom and modest land size limit future flexibility relative to nearby larger lots. The commercial opportunity lies in a sympathetic renovation to capitalise on its prized location and layout. This is a long-term hold for an owner-occupier; its value is anchored in scarcity and position, not yield. Nearby sales indicate a wide value range, heavily influenced by property type and size: – 334 Cleveland St (4 bed, 131m² house): Sold $2,570,000 – 396-398 Cleveland St (4 bed, 265m² land): For sale, estimated $2,681,000 – 542 Cleveland St (4 bed, 250m² land): Sold $740,000 – Apartments at 424-426 Cleveland St (1-2 bed): Sold between $647,000 and $2,010,000 This property’s smaller 120m² land parcel and original condition position its value significantly below the larger, renovated houses, likely within the lower spectrum of the house market given its functional constraints.