1 Lakes Cres, South Yunderup WA 6208

Bushfire and flood overlay detected | 541sqm land with only 76sqm internal | Mixed capital growth in complex | 1-hour Perth commute This unit presents a defined trade-off. The land component at 541sqm is unusually generous for a two-bedroom unit, but the building footprint is modest, and the bushfire and flood overlays introduce insurance and resale friction that a buyer must quantify before proceeding. The rental yield of around 6.1% on current list price is commercially sound, but the capital growth history within this complex is inconsistent, with one holding returning minimal gain over a decade. This is a hold for cash flow, not a short-term flip opportunity; the risk mechanisms here are environmental liability and land-bank potential that may take years to mature. What is competitively rare here is the land size, which gives a buyer optionality for future subdivision or development should overlays be manageable. The lakeside positioning and walkable river access are genuine lifestyle anchors that support tenant demand and owner-occupier appeal. This property best serves a patient buyer seeking stable rental income with a long-term land play, not someone trading on forced appreciation. The next step is to secure a property inspection and a full flood and bushfire risk assessment from a licensed consultant before any offer is made; this pre-work will determine whether the land is an asset or a liability. Comparable sales in the complex show a 25% gain over three years for one unit but near zero growth over ten years for another, reinforcing that this property is bought on yield and land, not on market momentum.