38/35 Wellington Street, East Perth WA 6004
38/35 Wellington Street, East Perth WA 6004
Compact 2-bedder | investor-grade yield | East Perth fringe | pool-gym complex | 57m² living
This unit is positioned for the buyer who wants inner-city convenience without the full apartment-tower experience. At 57 square metres it’s tight for a two-bedroom layout, but that compactness is exactly what drives the rental return — the estimated weekly rent stacks up well against the price point, which makes it a sensible entry for an investor or a low-maintenance base for a first-home buyer who values walkability over space. The complex itself offers the usual amenity layer, pool, gym, secure parking, and the location near the parkland redevelopment and public transport gives it a practical edge over quieter but less connected suburbs. It’s not a showpiece, but it’s a solid, functional unit in a precinct that consistently attracts tenants and buyers who want the CBD close.
The main factors that might shape its value are the internal size and the lack of confirmed details on aspect or floor level. A higher floor with natural light could push it toward the top of its band, while a lower or shaded position may cap it. The 57 square metres also limits appeal for owner-occupiers wanting more room, so the buyer pool skews toward investors, which can soften competition. The absence of any overlay constraints is a neutral positive, and the building’s age and finishes, though unverified, will likely reflect the standard of similar stock in the area. Weigh those against the yield and the location, and the price should feel fair rather than exceptional.
|| Comparable Sales: 5/35 Wellington Street sold Jan 2024 around $600k; 51/35 Wellington Street sold Feb 2023 near $550k | Property Price Band: $550k–$650k | Value Drivers: rental yield, complex amenities, proximity to CBD and parkland
Detailed Independent Property Report prepared by PropCred Analyst team for 38/35 Wellington Street, East Perth WA 6004
Checks found:
Value Risk
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
1
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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: 5/35 Wellington Street sold Jan 2024 around $600k; 51/35 Wellington Street sold Feb 2023 near $550k | Property Price Band: $550k–$650k | Value Drivers: rental yield, complex amenities, proximity to CBD and parkland
Bedrooms
2
Bathroom
1
Parking
1
Land
1173m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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