Is this Sydney’s cheapest penthouse?

What housing affordability crisis?

This penthouse in the heart of Bondi, with cracking water views, has just been listed for a price within the reach of plenty of Aussies.

It boasts a strong claim to be Sydney’s best value penthouse.

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The 3-bed, 2-bath home boasting two car spots and both east and north facing terraces has just been listed via Monica Shor of Ray White Unlimited Bondi Beach, with a price guide of $2.5m+.

“It’s an amazing and exclusive luxury penthouse,” Ms Shor said of the home at 19/64 Penkivil Street, Bondi.

And the views are just one of the lures attracting potential buyers.

“The views – they are incredible – clear blue ocean views from all rooms – it’s intoxicating,” she said.

“The privacy of having an entire floor to yourself is another big bonus and the level access.”

The home is walking distance to Bondi Beach and Bondi Junction and the accessible price point is giving out-of-area buyers the chance to get into the highly prized Bondi market.

“We are getting mixed types of buyers including downsizers and people moving from other areas,” Ms Shor said.

“This represents amazing value, if you put this property in a different location such as Bellevue Hill it would be approx $3.5m +, in Rose Bay a newish development around $4.5m+ for the size and offering.

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“Double Bay again $4.5m + Given the proximity to so many amenities, this really sits in a very affordable price point.

“If this was closer to the beach we would be looking at a level of $4.5m – $5m.

“It’s rare to see this type of offering at such an appealing price point with so very many attributes. This ticks all the boxes.”

Unsurprisingly, in a market lacking listings, investors are also eyeing off the home.

“This has great appeal across the board and offers an excellent return for capital growth or even as an investment given the current rental yield it could bring in,” Ms Shor said.

According to PropTrack, the median price for a three-bed unit in Bondi is $1.72m.

The home last traded hands for $1.45m in 2008. It is scheduled for auction on May 31.

“Panoramic ocean views create instant wow factor when you enter this impressive penthouse in the premier position atop a stylish building footsteps to Bondi Road shopping village and minutes to the beach,” the listing reads.

“Enjoy stunning sunrises, sunsets and spacious indoor-outdoor living with 2 decks, no common walls & secure 2-car parking.”

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