1/345 Stirling Street, Highgate WA 6003

| 1-bed unit risk | low yield buffer | strata uncertainty | non-prime street position | This property presents specific risk mechanisms that cost the buyer directly. The 72m² internal area with a large courtyard is unusual for a 1968 unit, yet the asking price anchors above the suburb median of $440k and the $426k estimated value from twelve months ago, creating a premium of roughly $60k that must be justified by location or condition. The opportunity lies in the low strata fees and the private outdoor space, which is rare in this pocket, but the buyer is effectively paying for amenity that may not translate to resale premium if the market softens. The plain judgment is that this unit suits an owner-occupier who values outdoor living over capital growth, not a yield-focused investor. The competitive strength is the private courtyard and the unit count of only twelve, which gives a quieter complex than most Highgate blocks. For a buyer who wants a walkable CBD commute with genuine private outdoor space instead of a balcony, this property fills a gap in the market that larger complexes cannot offer. It serves best a professional single or couple who plans to hold for five years and prioritises lifestyle over maximising square-metre returns. From comparable sales data: – Unit 7/345 sold February 2025 at $320k for a 1/1/1, bought May 2023 at $238k – that is a 34% gain in under two years. – Unit 12/345 sold March 2022 at $580k for a 2/1/2. The value inference for this property: the 1/1/1 comparables show upward momentum in the complex itself, but the current asking sits 56% above the last 1-bed sale there, which suggests either condition premium or aspirational pricing. The next step is to inspect the courtyard at a quiet time, test the strata minutes for any pending special levies, and run a yield calc at $600 weekly rent against the final negotiated price – because the numbers must stack as a hold before they stack as a home.