4/139 Smith Street, Larrakeyah NT 0820

| 2-bed unit in Larrakeyah | strong rental yield | premium body corp fees | no land value | tenant locked in till 2026 The quarterly body corporate fees of $1,438 eat into net yield more than most comparable units in Darwin, and the tenant’s lease until May 2026 removes vacancy risk but also caps your ability to adjust rent upward short-term. At a purchase price near $410k, the current $530/week lease delivers a gross yield around 6.7%, competitive for the suburb, but after fees and council rates your net return tightens to roughly 4.8%. This unit works best as a medium-term hold for an investor who wants immediate cash flow without turnover hassle, not for an owner-occupier needing flexibility or capital growth in the next two years. The 84m² internal layout with a renovated bathroom and private balcony is scarce in Larrakeyah’s high-density zone, giving you a floor plan that outperforms newer studio-style apartments in the same price bracket. Low-maintenance strata living with air conditioning and ceiling fans reduces upkeep costs, which matters in Darwin’s climate. This property suits an investor who values yield over land appreciation, but if you want long-term capital gains, look for a house with land component instead. Given the tenant’s fixed lease and above-average body corp fees, the true value here depends on whether you can negotiate a price below $400k to offset the holding costs. Get a building inspection before you commit, and run your own net return model with the current fees.