86 Lewin Street, Lyneham ACT 2602

| 3-bed main plus self-contained studio | 442sqm in Lyneham | dual-income potential | auction May 23 | The property’s standout advantage is the separate self-contained studio with rear lane access, effectively offering two rental incomes or a multigenerational setup on a single title. The 442sqm block with RZ1 zoning and no overlays provides rare flexibility in a tightly held suburb where 80% of Lewin Street is owner-occupied. The main residence’s three bedrooms all with walk-in robes and the open-plan living opening to a deck suit families or professionals who value separation of space. Lyneham’s 59% auction clearance and $1.1m median indicate strong demand, and the studio’s rental history suggests $805 weekly potential from that unit alone. The primary risk is the studio’s unapproved cooking facilities, which could complicate financing or insurance and may require rectification costing $5,000-$15,000. The 2018 sale at $980,000 as a duplex means the current configuration may attract a premium, but estimated values of $1.175m-$1.4m leave a wide gap between ambition and evidence. The roof replacement in 2022 and solar panels reduce near-term capital spend, while the NBN FTTN connection is adequate but not a drawcard. For a buyer, this property works best as a hold-and-rent play leveraging the studio’s income stream, or as a home where the studio offsets mortgage costs. Approach the auction with a ceiling based on comparable single-dwelling sales in Lyneham, not duplex valuations.