614/112-122 Goderich Street, East Perth WA 6004

Heritage overlay restricts changes | Long lease caps short-term gains | Ongoing strata fees must be tracked | Market movement since 2019 underpins future. The heritage overlay introduces costs and delays for any alterations, but this is a turnkey unit with a tenant until 2027, offering immediate income at an estimated 4.5–5% gross yield. Price growth was likely muted since 2019’s $150,000 sale, given current comparables near $424,000; upside hinges on area gentrification and interest rate shifts. Hold for steady cash flow, not aggressive flipping. Its value lies in the tenancy security and East Perth’s high renter demand-48% of locals are 20–39, fueling a 55/45 owner-renter split. The furnished, low-maintenance layout and car space reduce void risk, making it best for hands-off investors chasing inner-city exposure without vacancy stress. Compare past $150k sale to higher estimates today to gauge your entry position; verify heritage limits with council to proceed.