602/51 Crown Street, Wollongong NSW 2500

2-bed, 2-bath beachside unit | flood risk flagged | 2016 price gap | premium rental yield potential The flood risk at this address is a material cost mechanism—it narrows the buyer pool and can suppress resale liquidity, adding weeks to selling time and possibly 3-5% to discount expectations at exit. On the opportunity side, the 5.87% rental yield potential is strong for a CBD apartment, and the estimated $640,000 value sits below the ask, implying a negotiation hand for a buyer who can absorb the risk profile. This property is best held as a high-yield rental, not a primary residence for risk-averse owners. What gives this unit an edge is its 80-metre proximity to the beach and the secure complex with resort amenities, a rare combination in Wollongong’s rental market. The built-in robes, split-system air, and east-facing balcony with dual aspects provide functional comfort that commands the $720+ weekly rent estimate. This apartment serves an investor seeking low-touch, yield-positive exposure to coastal demand, or a buyer willing to negotiate hard on the flood risk to secure a discount. To proceed, request the strata flood management plan and compare the value estimate to recent sales in the building, then structure your offer below $665,000 to build equity from day one.