404/16-20 Smail Street, Ultimo NSW 2007

404/16-20 Smail Street, Ultimo NSW 2007
Large 2-bed apartment in Ultimo | dual-bathroom layout | heritage overlay zone | strong rental demand area The property’s 114-square-metre floorplan is rare for a two-bedroom apartment in Ultimo, giving it a clear competitive edge over typical stock in the area. The dual-bathroom configuration and single car space make it suitable for professional couples, downsizers, or investors targeting the upper end of the rental market, where weekly returns of $1,000 to $1,200 are achievable. Its position within the Sydney CBD fringe, near universities and transport, supports consistent buyer interest, and the building’s fibre connectivity adds a practical layer of appeal. The heritage overlay is the primary constraint, as it may restrict internal alterations and facade changes, potentially delaying approvals or limiting future renovation upside. The building’s 55% rental ratio is worth noting, as higher tenant concentrations can influence strata dynamics and lending appetite. Buyers should review the sinking fund and recent levy history to avoid unexpected costs. An auction campaign introduces pricing risk, but the property’s size and layout should attract multiple buyer types, reducing the chance of a thin market.
Detailed Independent Property Report prepared  by PropCred Analyst team for 404/16-20 Smail Street, Ultimo NSW 2007
Checks found:
Value Risk ✕ 2
Liquidity Risk ! 1
Planning Risk ✓
Income Risk ✓
Execution Risk ✕ 2
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Market Insight

Ultimo is a tightly held inner-city suburb with a clear market divergence. Demand is driven by young professionals, students, and investors, capitalising on strong rental yields supported by university proximity and excellent transport links. While houses exhibit robust growth, the unit market has experienced significant recent price declines, reflecting broader affordability pressures and interest rate sensitivity. Future growth is underpinned by consistent tenant demand and infrastructure, yet constrained by very low house supply and the unit segment’s demonstrated volatility.
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PropCred Estimated Value

Bedrooms

2

Bathroom

2

Parking

1

Land

114m²

Research & Review Prepared by Brian Moon, Analyst · Reviewed by Matt Proctor, Principal Analyst
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