$660,000

This 1-bedroom apartment at 270/298-304 Sussex Street, Sydney, presents a compelling investment opportunity, particularly for its potential value and rental income. Priced at $660,000, it sits significantly below the median price of 1-bedroom comparable apartments in the immediate Sydney CBD area, which based on the provided data, is closer to $700,000-$750,000 for similar configurations (e.g., comparable 1 at $575k, comparable 4 at $775k, comparable 5 at $740k, comparable 8 at $900k). This suggests a strong undervalued position, especially considering the premium location. The 'Sydney' suburb is broad, but Sussex Street is highly central, commanding strong demand. The property's market position is favorable, appearing to be one of the more accessible entry points for a 1-bedroom apartment in a prime CBD location. The lack of parking is typical for many CBD apartments and generally doesn't deter renters in such a well-connected area. Based on comparable 1-bedroom apartments in the provided data, which show rents ranging from $680/week to $780/week (e.g., comparable 1 at $680/wk, comparable 2 at $780/wk, comparable 4 at $720/wk, comparable 5 at $720/wk, comparable 8 at $750/wk), an estimated weekly rental income of $690 is realistic. This estimate considers the property's competitive price point and the strong rental demand in Sydney CBD for 1-bedroom units. This would result in an estimated gross annual rental yield of approximately 5.44% ($690 * 52 / $660,000 * 100), which is an attractive yield for a Sydney CBD apartment, outperforming many of the higher-priced comparables. Key investment strengths include its central location, strong rental demand, and a potentially undervalued purchase price. The main risk is the general volatility of the Sydney property market, although CBD rentals tend to be more stable due to consistent demand from professionals and international students. The flip potential is moderate; while the price suggests room for capital growth, the specific condition of the apartment (not provided) would dictate renovation scope. However, even a cosmetic refresh could enhance its appeal and value. My confidence level in this rental estimate is high, given the direct comparable data provided. Recommendation: This property is a strong candidate for an investor seeking solid rental yield and potential capital growth in a blue-chip location. Further due diligence on the building's strata report and the apartment's internal condition is recommended.