15/59 Malcolm Street West Perth WA 6005

1966-built 1-bed unit | 41m² strata lot | fully furnished & equipped | flood & heritage overlays | walkable CBD & Kings Park This unit presents a compact, turnkey investment in a prime inner-urban location, directly serving budget-conscious investors or single occupants. Its full furnishing and recent kitchen and bathroom renovations eliminate immediate capital outlay, positioning it for immediate rental income. The property’s core strength is its walkable proximity to the Perth CBD and amenities, which underpins consistent rental demand from professionals and students, as evidenced by its concurrent rental listing. The property’s significant constraints are its small floor plan and the dual planning overlays. The 41m² size is below modern standards, potentially limiting long-term capital growth and tenant appeal. The flood and heritage overlays introduce risk, possibly restricting alterations and increasing insurance complexity. For a buyer, the commercial logic rests on securing a high gross rental yield—approximately 6%—from day one. Acquire this strictly as a passive, income-generating holding; its value appreciation will be tied more to land value in the complex than the unit itself. A Propcred report would pressure-test this yield against true market comparables, detail the financial impact of the overlays, and clarify strata health and insurance premiums. Recent comparable sales data for the immediate area was referenced in listings but specific prices and addresses were not provided in the available information. This lack of transparent sales evidence necessitates rigorous, independent valuation to confirm the asking price aligns with true market value for similar, small-format units in West Perth.