7/4 Farne Close, Warwick WA 6024

A compact 2-bedroom, 1-bathroom apartment within a secure, low-maintenance complex, this asset represents an entry-level investment or downsizer product in Perth’s northern middle-ring. With ~72 sqm internal area, balcony, and single parking, it is positioned for affordability and convenience rather than scale or family appeal. From a pricing perspective, the property is currently marketed from ~$695K, with valuation estimates broadly in the $670K-$750K range (upper ~$820K). This places it above the suburb unit median (~$612K), indicating a premium likely driven by presentation, complex quality, and proximity to transport and retail (Warwick Station and Warwick Grove). Rental performance is a key strength, with expected income around $680-$710/week, translating to a ~5.0%+ yield, which is strong for a metro unit and competitive versus detached housing in the area. This reflects demand from singles, couples, and investors targeting low-maintenance stock near transport corridors. Market context is supportive, with Warwick experiencing ~14-19% annual growth and house medians near ~$1.0M, creating a price gap that drives demand into units as an affordable alternative. Strategically, this is a yield-focused, entry-level investment rather than a capital growth outperformer. Upside is tied to affordability pressure and infrastructure access, while downside risks include limited scarcity (strata stock) and lower long-term land appreciation. Overall, it suits investors seeking strong cash flow and low vacancy risk, or buyers prioritising convenience over scale.