59C/21 Beissel Street, Belconnen ACT 2617
59C/21 Beissel Street, Belconnen ACT 2617
Ground-floor 2/2/1 | 89 m² generous Belconnen apartment | Two bathrooms + reverse-cycle A/C | FTTB NBN and near lake/town centre | Single car space is the main trade-off
The property sits well within the established lake-adjacent apartment precinct around Beissel Street. Its 89 m² internal area is more generous than typical compact investor stock, and the ground-floor layout with two full bathrooms is a practical combination for downsizers or professional couples who want easy access and low-maintenance living. Fresh paint, new carpets, built-in robes, and secure basement parking reduce immediate spend after purchase. The location is a genuine strength: Westfield Belconnen, Lake Ginninderra, and the University of Canberra are all close by, and the public catchment for Florey Primary School and UC Senior Secondary College Lake Ginninderra covers the basics without relying on private schooling. With an estimated rent of $615 per week against a valuation near $558,000, the implied gross yield of roughly 5.7% is respectable for an area that is not dominated by long-term holders, supporting steady investor interest alongside owner-occupier demand.
Value may be shaped by the single car space, which limits appeal to households with two vehicles. Ground-floor units sometimes attract a small discount relative to upper levels with better outlooks, though they also offer direct access that some buyers prefer. The build year of 2009 and a moderate EER of 6.0 suggest heating and cooling costs will be ordinary, but the reverse-cycle system covers the main need. Recent sales of similar two-bedroom units in the same complex cluster in the low-to-mid $500,000 range, with the most comparable higher-spec unit changing hands at $576,000 in early 2022. The price should land within that observed range, with the single car space holding it back from the top end.
Detailed Independent Property Report prepared by PropCred Analyst team for 59C/21 Beissel Street, Belconnen ACT 2617
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Belconnen, Canberra’s north-west commercial hub, combines Westfield retail infrastructure and arterial bus links to the CBD. Demand is led by young professionals, investors and first-home buyers, drawn to gross yields of 5.82% for houses and 6.09% for units, a 0.97% vacancy rate, and high rental demand. Median house prices sit at $602,500, down 7.87% over the year, while median units are $470,000, off 2.08%. Houses spend 71 days on market, with just 27 annual sales indicating thin turnover. Employment in government and retail, university proximity and strong school catchments support rental demand. However, rate sensitivity is evident in the price decline, and affordability is stretched against competing Canberra suburbs. Tight supply, reflected in low sales volume, may constrain activity but offers little near-term reprieve from price correction.
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PropCred Estimated Value
$550,000 to $600,000. Recent unit sales in the same complex range from $528,000 to $576,000, and the estimated property value of $558,000 supports a fair band around the mid-$570,000s. A buyer should feel comfortable paying toward the upper half only if the ground-floor convenience and two-bathroom
Bedrooms
2
Bathroom
2
Parking
1
Land
2.1 ha
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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