6/176 Old South Head Road Bellevue Hill NSW 2023

2 bed apartment with single parking |Aligns with $1.66m unit median |Recent comps $1.66m on Old South Head Rd |Units down 12.75% past year|1,660 char limit hit early. This two-bedroom apartment with one bathroom and one parking space suits downsizers or professionals seeking a low-maintenance entry into Bellevue Hill’s prestige market. It delivers practical living in a boutique strata setting, ideal for those prioritising convenience over expansive space. On its street along Old South Head Road, similar units like a recent two-bedroom sale at number 1/268 fetched $1,660,000, placing this property squarely in line with established pricing for comparable configurations. This positioning reflects a street characterised by strata apartments amid the suburb’s dominant house market, where units comprise 53% of stock but trade at a fraction of the $12 million house medians. Buyers drawn to such properties are typically local professionals, retirees downsizing from larger homes, or investors eyeing steady rental yields around 2.78% in a suburb where units rent for about $985 weekly. In the local market, these apartments have faced headwinds with a -12.75% annual growth rate over the past year, contrasting sharply with houses up 7-22%, yet they maintain quick turnover at 37 days on market. The suburb’s current undervaluation relative to long-term trends—5% CAGR over 35 years—suggests potential for recovery, particularly as limited supply bolsters unit appeal. Long-term holding value stems from Bellevue Hill’s prestige status and insulation from broader volatility, attracting consistent demand from affluent locals and internationals despite short-term dips. Its single parking adds a practical edge in a car-dependent eastern suburbs context, enhancing usability for owner-occupiers. Overall, this apartment offers reliable positioning for patient holders betting on the suburb’s enduring prestige.