15/11 King George Street, Victoria Park WA 6100

1964 build | 120m² lot | City views | High yield potential | Near top schools This unit presents a compelling proposition due to its unusually large land component for an apartment and its strong rental fundamentals. The 120m² lot size is a significant configuration edge in Victoria Park, where apartments are typically far smaller, offering a scarcity premium. Combined with reliable city views and proximity to sought-after government schools, it serves the long-term investor or owner-occupier seeking space and location over modern finishes. The gross rental yield, estimated between 5.5% and 6%, provides a solid income base that underpins its investment case. The primary decision hinges on the 1964 construction, which carries latent risk for capital expenditure on building systems and potential strata special levies. This cost mechanism directly offsets the high yield and demands a thorough strata records review. However, the absence of environmental overlays and the consistent rental demand create a clear opportunity for value-add through cosmetic updates. The judgment call is to proceed with a disciplined offer contingent on building inspection, targeting a buy-and-hold strategy to capitalise on its land value and yield. Comparable sales within the complex indicate a clear value gradient: – 11/15 King George Street (1 bed, 1 bath): ~$325,000 estimated value. – 11/11 King George Street: ~$475,000 estimated value (off-market). This unit’s $588,000 estimated value is justified by its extra bedroom and substantially larger plot, demonstrating a logical price premium for space. The data confirms you are paying for tangible configuration advantages, not speculative suburb growth.