401 Penshurst Street Chatswood NSW 2067

Older home on larger land | Near top schools | Rental yield above suburb average | Free-standing in walkable location This property presents a clear value proposition through its land component and established rental income, offset by the capital demands of a 1930s build. The below-median price for a five-bedroom house in Chatswood is directly attributable to its age, implying future maintenance liability. However, the 3%+ gross yield and proven rental demand provide a defensive income stream, making it suitable for a buy-and-hold investor seeking land appreciation with income support. A purchaser must budget for ongoing upkeep against the benefits of a large, level block in a prime school catchment. Its competitive strength lies in the scarcity of free-standing homes on 560m² lots within walking distance of Chatswood’s amenities. The size and configuration cater to large families or a share-house model, capitalising on consistent demand near Roseville Public and Willoughby Girls. While the house itself is not a premium product, the land parcel and location are, offering a rare entry point into this market segment for a land-banking strategy or future redevelopment. This analysis positions the property as a strategic land play with immediate income; contact us to model the renovation cost against the suburb’s redevelopment premium. Nearby sale at 406 Penshurst Street (3 bed, 1 bath, 594m²) sold recently, contact agent for price. This reinforces the value of land size in this street, suggesting strong underlying land demand which supports the subject property’s valuation basis.