208/201 Hay Street, East Perth WA 6004

208/201 Hay Street, East Perth WA 6004
2 bed 2 bath | 86m² inner-city unit | 1997 build | flood & heritage overlays | strong rental yield This apartment holds a genuine edge for its era—two bathrooms in a 1997 building is not common, and that layout flexibility matters for share-housers or professionals who want separation. It sits in an established East Perth pocket where the streetscape is mature, not flashy, and the buyer it serves best is someone prioritising rental return or a low-maintenance city base over premium finishes. The estimated $795 weekly rent against a $454,000 value signals unusually strong income potential, which makes this a yield-driven purchase rather than a lifestyle splurge. The building’s long-tenure profile—72% of owners holding over a decade—suggests stable neighbours and a strata scheme that has weathered time, which is quietly reassuring for a first-time investor or a downsizer wanting predictability. The flood and heritage overlays may shape what you can alter, both inside and at strata level, so renovation ambitions should be checked before committing. The 86m² footprint is workable but not generous, and without confirmed parking or a high-floor aspect, the value may hinge on how the unit presents internally—condition, light, and any upgrades will carry more weight than the building’s common facilities. Older stock like this can also mean variable strata levies, so the financials beyond the purchase price deserve a close look. These factors might temper upside, but they don’t undermine the core proposition: a solid, income-producing unit in a central location. || Comparable Sales: 811/201 Hay Street sold $360,000 (2/2 no park); 303/201 Hay Street sold $356,000 (2/1 no park) | Property Price Band: $350,000–$450,000 | Value Drivers: two-bath layout, rental yield potential, internal condition and any parking allocation
Detailed Independent Property Report prepared  by PropCred Analyst team for 208/201 Hay Street, East Perth WA 6004
Checks found:
Value Risk ! 1
Liquidity Risk 2
Planning Risk ! 1
Income Risk
Execution Risk 2
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Market Insight

East Perth’s proximity to the CBD and transport infrastructure underpins its desirability. Demand is driven by investors and first-home buyers competing for limited stock, particularly at the market’s lower end, supported by strong population growth. This competition, amid a severe shortage of listings, has accelerated price growth and compressed selling times. Future momentum relies on the persistent supply-demand imbalance, though the primary constraint remains the acute shortage of quality housing stock.
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PropCred Estimated Value

Comparable Sales: 811/201 Hay Street sold $360,000 (2/2 no park); 303/201 Hay Street sold $356,000 (2/1 no park) | Property Price Band: $350,000–$450,000 | Value Drivers: two-bath layout, rental yield potential, internal condition and any parking allocation

Bedrooms

2

Bathroom

2

Parking

-

Land

86m²

Research & Review Prepared by Steve Dalton, Senior Analyst · Reviewed by Matt Proctor, Principal Analyst
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