421/1C Lemon Tree Avenue, Melrose Park NSW 2114
421/1C Lemon Tree Avenue, Melrose Park NSW 2114
3-bed apartment, 2-car, 2021 build | 116 m² floorplate, family-sized | Melrose Park Village, transit-linked | Owner-occupier premium over investor stock | No hazard overlays, FTTP NBN
This apartment holds a genuine edge in Melrose Park because it is a rare three-bedroom configuration with two dedicated car spaces in a 2021 build, which places it well above the typical one- and two-bed investor units dominating the precinct. The 116 m² internal area supports a family layout rather than a compact rental-style floorplan, and the inclusion of ducted climate control, double glazing, floorboards, and a study lifts the finish beyond standard newer stock. The property sits within a master-planned development with shuttle access to Meadowbank Station and the ferry, making it a practical choice for professionals or downsizers who want newer living without a house-sized maintenance load. Its strongest appeal is to owner-occupiers seeking lock-and-leave comfort with strong commuter connectivity, and the absence of bushfire, flood, or heritage overlays reduces hidden risk.
The value picture may be shaped by how the market weighs apartment density against land ownership, given the 158 m² reported allocation is strata-titled rather than exclusive freehold. Rental estimates vary meaningfully between sources, which might signal that achievable income is still being tested in this precinct, and that could influence investor demand and resale competition. The 2021 purchase price of $940,000 offers a reference point, but current conditions may have shifted sentiment since then, so a buyer should weigh the premium for newer stock against the limited land upside compared to detached homes nearby. Future transport upgrades in the area might support long-term demand, but that remains dependent on delivery timing.
|| Comparable Sales: 229/1C Lemon Tree Avenue sold May 2024 at $596,000 (1-bed, same building) | Property Price Band: $1.1M–$1.2M | Value Drivers: 2021 build condition, 3-bed layout with 2-car, Melrose Park Village amenity and transit access
Detailed Independent Property Report prepared by PropCred Analyst team for 421/1C Lemon Tree Avenue, Melrose Park NSW 2114
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
Income Risk
2
Execution Risk
1
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Market Insight
Melrose Park is an established, high-value suburb experiencing significant demographic expansion, driven by affluent professionals seeking premium housing. This demand has sustained strong capital growth in the housing market, though recent conditions indicate a tightening of supply with limited turnover. Future growth is underpinned by sustained population influx and its established appeal, yet the market faces constraints from its high price point and sensitivity to broader economic factors influencing leveraged homeowners.
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PropCred Estimated Value
Comparable Sales: 229/1C Lemon Tree Avenue sold May 2024 at $596,000 (1-bed, same building) | Property Price Band: $1.1M–$1.2M | Value Drivers: 2021 build condition, 3-bed layout with 2-car, Melrose Park Village amenity and transit access
Bedrooms
3
Bathroom
2
Parking
2
Land
158m²
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