5/28 Geographe Bay Road, Dunsborough WA 6281

Ground-floor apartment | direct beachfront reserve access | unusually large 3,238m² lot | tightly held coastal pocket This property presents a rare configuration: a two-bedroom apartment occupying a landholding typically reserved for houses, granting direct, private access to oceanfront parklands. Its like-new condition and ground-floor flow to the reserve create a compelling, low-maintenance coastal lifestyle proposition, ideally suited for a permanent downsizer or a premium holiday home seeking absolute proximity to the beach. The substantial lot size underlying a unit is an uncommon asset in this market, offering a scarcity premium. The primary risk is the heritage overlay, which may constrain future alterations and requires due diligence. The significant price growth since 2021 also anchors high expectations. The opportunity lies in securing a turnkey property in a tightly held location where such direct beachfront access is seldom available. Acquire for long-term hold as a lifestyle property, not for speculative gain, as its value is sustained by its irreplaceable position rather than rental yield, which is unverified. * **5/28 Geographe Bay Road:** Last sold May 2021 for $1,000,000. * **Nearby comparable (2/28 Geographe Bay Road):** A similar two-bedroom unit in the same complex is estimated at $1,519,000. This sales history indicates strong capital appreciation for the subject property. The comparable unit’s lower estimated value, despite proximity, suggests a premium is attached to this specific apartment’s ground-floor position and direct reserve access, reinforcing its standout nature in the complex.