2/481 Old South Head Road Rose Bay, 2029 NSW

Spacious Studio in the heart of Rose Bay

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Phone enquiries - please call 1300 594 794 and quote property ID 35651.

Rose Bay is an affluent, picturesque harbourside suburb 7 km east of Sydney's CBD, known for its scenic harbour views, marinas, and relaxed atmosphere.
The above sentence is what first appears when doing an internet search on Rose Bay, and the very first thing mentioned after the suburb name, even before the geography, is that it is an affluent suburb.
Here then is a rare opportunity to purchase real estate in one of Sydney’s most desirable and sought after suburbs at this price point.
And that’s about the extent of salesmanship in this listing. If you wish to read pseudo poetry and a flowery description of a flat you could click on another ad at random and you’d likely get a description of a flat not disimmilar to the one listed here. I’ll leave the bs to those that appreciate such things, and in its place I’ll provide you with the essential details.
The ad is detailed and informative so if you are a serious buyer please do continue reading.
The provided photos and text are accurate however if you have further questions or are unclear about something please by all means contact me.

ABOUT THE FLAT:
-A spacious purpose built studio with a practical open plan design, unlike many studios in Sydney which are essentially leftover spaces with impractical odd shapes or converted tiny ex hotel rooms.
-Functional and clean, the studio has been partially renovated with modern kitchen cabinetry, a spacious built in wardrobe, and upgrades to the balcony. The bathroom is older style.
-A generously sized studio at 35sqm (approximately 31sqm internally, with approximately 4sqm balcony), the internal dimensions of the flat are larger than most in the building due to the orientation - flats with side orientation have larger balconies yet are smaller internally.
-Conveniently located on the first floor of the building, it is an easy walk up to the flat.
-No parking space on my title, however street parking in Rose Bay is ample.

ABOUT THE BUILDING:
-The building itself was built in 1970. Build quality for Sydney in the 1970’s-1980’s is highly regarded.
-The building is solid, well maintained, and well managed. It does not have a history of excessive special levies, issues are dealt with promptly and without burdomsome expense to the owners.
-21 residential units and 2 shops are on strata title. This size building is considered as the happy medium in regards to strata, small blocks can be expensive to owners if problems arise, and large blocks have continual issues and generally command high strata fees.
-Common areas have been upgraded in recent years, modernising and improving the building. Strata also covered costs for upgrades to the flats themselves, adding value for new buyers.
-Communal rooftop with a pleasant breeze and vistas over the local area.
-Shared laundry room with coin operated washer and dryer.
-Intercom at building entrance.
-No lifts, no pool, no hassles and expenses that are associated with lifts and pools.
-Pet friendly building. Your adorable canine companion (or other beloved pet) are most welcome.

ABOUT THE NEIGHBORHOOD:
-Public transport is only metres from the buildings entrance, with regular bus services to Bondi Junction train station, Bondi and other local beaches, Vaucluse and Watsons Bay. A ferry service and additional bus routes also operate from the bay.
-A multitude of retail and dining options are present along Old South Head Road and at the bay, catering to your needs locally.
-It is a quick walk to the bay and it’s lovely foreshore, parks, and boutique shopping, with Bondi and Vaucluse also within walking distance.

PRICE GUIDANCE AND SALES IN THE BUILDING:
The studio is priced at current market value consistent with comparative sales in the building, and with consideration to price increases in the Sydney housing market.
In the past few years flats in the building have been selling in the mid to high 500K range, with one attaining a price of $600,000 in February 2025.
The studio would be ideally suited to an owner occupier that appreciates what the flat and the area have to offer, however at this price point for the area it also represents a very good investment opportunity and is easily rented (rents are approaching $600 per week in the building).

FINANCING A SUCCESSFUL PURCHASE:
It is common that banks will not approve loans on properties less than 50sqm (my studio is 35sqm), or they will only provide a loan for the partial value of the property.
It is irrelevant if you have finance pre approval greater than that of the value of the flat, finance pre approval is no guarantee that the bank is willing to provide full funding for a studio, if at all.
Therefore I am seeking cash buyers or buyers that can fund the balance if they obtain a loan lower than the full sale price. Cash buyer is a colloquialism and does not specifically refer to physical cash transactions, it refers to money which isn’t borrowed. The flats asking price has been met on more than one occasion by serious and very keen buyers, however they could not obtain a loan.
The asking price is firm at 590K, and not less. If you are seeking a below market deal you are welcome to try elsewhere. I have determined my asking price on the logic of comparative sales paired with housing price increases.
With consideration that housing prices are often subjective then if you disagree with my valuation that is fine, but it doesn’t mean I will agree with yours. Properties under 600K in Rose Bay will rapidly become a thing of the past.
If you are interested in the studio and it is within your budget a private inspection can be arranged, please contact me.

QUARTERLY RATES AND LEVIES:
Strata - $1,157.06
Waverley Council - $358.55
Sydney Water - $179.94

Please note that I do try to keep information up to date however there are sometimes increases to rates and levies which aren’t updated on the ad (Sydney Water regularly adjusts its rates by a few cents, making it difficult to keep up to date with).

DISCLAIMER While proudly assisting home owners to sell since 1999, No Agent Property takes every care to verify the accuracy of the details in this advertisement, but the correctness cannot be guaranteed.

For Sale $590,000

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Inspection of this property is available strictly by arrangement only.

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