2 Pilgrim Street, South Perth WA 6151

4 bed, 3 bath, 5 car | 616m² lot in South Perth | 273m² internal area | built 1980, no overlays This property offers a rare combination of generous land size and substantial internal floor area within a sought-after South Perth location, with five car spaces providing a distinct edge for multi-vehicle households or those requiring workshop or storage capacity. The 44% building coverage leaves meaningful outdoor space, and the absence of bushfire, flood, or heritage overlays simplifies due diligence. It is best suited to a family seeking a long-term home with room to reconfigure or extend, or an investor targeting a high-yield rental with strong land-value fundamentals. The primary risk is the 1980 build age, which may require near-term capital for roof, electrical, or plumbing upgrades, and the minor bathroom discrepancy between listings signals possible unapproved modifications or outdated marketing. The estimated rental yield of roughly 1.7% is low for pure investment, but the land content and location support capital growth. This property should be held for at least seven years to realise land appreciation, or renovated to lift rental income and resale value.