4/104 Brown Street, East Perth WA 6004
4/104 Brown Street, East Perth WA 6004
Boutique 10-unit block | Second-floor 2×2 layout | 2015 sale at $465k | 2024 same-block sale at $850k | Walk to river, cafes, CAT bus
This apartment sits in a deliberately small complex of just ten, which is genuinely uncommon for East Perth where most stock lands in large towers. The second-floor position gives it a quieter feel than ground level, and the building itself dates to 2009, so it avoids both the tiredness of older stock and the premium of brand-new builds. Same-block sales tell a clear story: a 2-bed unit traded at $465,000 in 2015, while a larger 3-bed went for $850,000 in late 2024. That spread suggests the address holds value well, and the typical finish level here—stone benchtops, integrated appliances, split-system air-con, secure parking—puts it above the basic investor-grade apartments that dominate the suburb. The buyer this suits best is an owner-occupier wanting a genuine inner-city lifestyle without tower living, or an investor who understands that boutique blocks with strong amenity access tend to hold rental demand better than anonymous high-rises.
The roof-top sky-deck with city views is a complex amenity that may add lifestyle appeal, though it is not confirmed for this specific unit. Orientation is not stated, which might matter for natural light and cross-breezes, and the 2015 sale price of $465,000 for this exact unit is now a decade old—the 2024 sale of a larger unit in the same block suggests the building has appreciated meaningfully, but a 2-bed will not match that 3-bed figure. Parking appears to be a single bay, which is standard but not generous, and the lack of a confirmed storeroom could be a minor drawback for some buyers. The property may also carry the usual strata constraints of a small complex, where levies can be slightly higher per unit because costs are spread across fewer owners.
|| Comparable Sales: 6/104 Brown St sold $850k (2024, 3×2); 4/104 Brown St sold $465k (2015, 2×2) | Property Price Band: $550k–$650k | Value Drivers: boutique block scarcity, finish quality, proximity to river and transit
Detailed Independent Property Report prepared by PropCred Analyst team for 4/104 Brown Street, East Perth WA 6004
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
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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: 6/104 Brown St sold $850k (2024, 3×2); 4/104 Brown St sold $465k (2015, 2×2) | Property Price Band: $550k–$650k | Value Drivers: boutique block scarcity, finish quality, proximity to river and transit
Bedrooms
2
Bathroom
2
Parking
1
Land
597m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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