14/36 Smith Street, Highgate WA 6003

Small 1980s one-bedder | long lease locked in | pool and tennis court | stable building with long owners This property sits in a well-established 1980s complex in Highgate, a suburb that draws buyers for its walkable cafe strip, Hyde Park proximity, and easy CBD access. The unit itself is compact but functional, with a separate office, built-in robes, and a balcony overlooking the pool — features that stretch its liveability beyond the typical one-bedroom box. The building shows stable occupancy, with owners staying on average over fourteen years, which suggests the complex is well-run and residents are satisfied. For a first-home buyer wanting a foothold in the inner city, or an investor looking for a tenant already secured until early 2027, this property offers a rare combination of immediate income certainty and a location that consistently attracts renters. The fixed lease at $450 per week runs until January 2027, which provides income security but also means no rental upside for the new owner during that period. Strata costs are not trivial — over $4,100 annually plus a special levy for roof and building work — and the heritage overlay may add constraints if future alterations are considered. The asking price of $500,000, when weighed against the existing lease and these holding costs, may require a buyer to look past the initial yield and focus on the longer-term capital growth potential in a tightly held inner-city suburb.