1016/112 Goderich Street, East Perth WA 6004
1016/112 Goderich Street, East Perth WA 6004
This is a 29 square metre one bedroom one bathroom apartment on level 10 of a 1968 high rise building in East Perth. It includes one car space and sits on a small title. The building is older stock and the unit is described as needing renovation.
What is competitively strong about this property is its position as a low cost entry point into East Perth, a suburb dominated by expensive new apartments. The older building and small size create a price gap that is rare in this market. The unit sits on level 10 which in this building is associated with panoramic views, a feature that typically commands a premium. The rental market in East Perth is liquid and demand is high, meaning a renovated unit here could generate a strong yield. This property serves best an investor willing to put in renovation work to unlock equity and rental upside, or a buyer seeking a low cost foothold in a premium location.
What might materially affect the value is the condition of the building itself. At 58 years old the plumbing and wiring may need attention and the small 29 square metre floorplan limits appeal to a narrow buyer pool. The renovation required is not optional for achieving market rent, it is necessary to compete with modern stock. The view from level 10 is not confirmed for this specific unit and if it is obstructed that would reduce the value proposition significantly. Buyers should weigh the cost of bringing the finishes up to standard against the ceiling price for unrenovated stock in this building, which appears to be around three hundred and fifty thousand dollars.
Detailed Independent Property Report prepared by PropCred Analyst team for 1016/112 Goderich Street, East Perth WA 6004
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
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
Bedrooms
1
Bathroom
1
Parking
1
Land
29m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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