809/508 Riley Street, Surry Hills NSW 2010

Elevated warehouse conversion | resort-grade amenities | strong rental yield potential | premium parking included The property’s position as a newly refurbished unit within a resort-style security complex at a prime Surry Hills address gives it a competitive edge over standard one-bedroom offerings in the area. The inclusion of a secure parking space, dual lifts, and communal facilities like a pool, gym, and rooftop BBQ area directly supports both owner-occupier lifestyle appeal and investor rental demand. Its proximity to light rail, Central Station, and the dining precincts positions it well for professionals seeking convenience without sacrificing amenity. The buyer profile best suited is a professional or investor prioritising low-maintenance living with strong capital growth potential, as recent building sales at $800,000 for comparable units with parking indicate a firm price floor. The primary risk is the lack of direct sales history for this specific unit, meaning valuation must rely on building-wide comparables and the “as new” condition may command a premium that narrows the margin for immediate capital gain. However, the opportunity lies in the building’s demonstrated rental yield of over 6% for similar units and the high proportion of short-term owners, suggesting turnover that could offer future buying opportunities. The unit’s elevated level 8 position and likely leafy views add scarcity value within the complex, while the recently refurbished rooftop enhances long-term amenity appeal.