16/31 First Avenue, Mount Lawley WA 6050
16/31 First Avenue, Mount Lawley WA 6050
Renovated 2×1 apartment | Mount Lawley lifestyle strip | Low-maintenance inner-city living | Compact 57m² floorplan | Secure third-floor position
The property has been presented as a polished, move-in-ready apartment in a suburb where much of the housing stock is older and character-led. A fully renovated interior, including modern finishes, split-system air conditioning, and a well-planned bathroom with integrated laundry, is offered here, giving the unit an immediate appeal that is less commonly found among competing apartments. The secure third-floor position, private balcony, and undercover car bay are included, adding practical comfort to an otherwise compact footprint. This unit is best suited to downsizers seeking a lock-and-leave lifestyle, professionals who value proximity to the CBD and Beaufort Street amenity, and investors looking for a low-maintenance holding in a popular inner-north precinct. Its relevance is strengthened by the suburb’s broader mix of family homes and character dwellings, so this apartment is offered as a distinct, more convenient alternative within the same postcode.
The compact 57 square metre internal area may be seen as limiting for buyers seeking more generous proportions, which could narrow the field of prospective purchasers. Quarterly strata rates of approximately $803 and annual water charges of around $1,170 must be weighed against the purchase price as measurable holding costs. The nature of the building’s shared facilities, aspect, and vertical access might be considered less generous than those found in newer or better-serviced developments in the wider market, and so the building’s age and maintenance history should be verified by the buyer before a final view is formed.
Detailed Independent Property Report prepared by PropCred Analyst team for 16/31 First Avenue, Mount Lawley WA 6050
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Mount Lawley, five kilometres north of the Perth CBD, combines leafy backdrops with an energetic main strip, positioning it as a fast-paced urban locale. Demand is driven by a professional cohort, with 51% of owners holding mortgages, reflecting strong owner-occupier commitment. House prices have risen 12.6% over the past year to $1.701 million, with a median selling time of 12 days; units grew 24.3% to $600,000 and offer a 5.0% gross yield. Median rents are $900 weekly for houses and $610 for units. Annual sales volumes range from 105 to 148. Future growth is supported by compound gains of 12.6% for houses and 24.3% for units, alongside above-average household earning capacity relative to Greater Perth. Key constraints are affordability at current entry prices and interest-rate sensitivity from high mortgage exposure.
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PropCred Estimated Value
Comparable Sales: 17/64 First Avenue (3×2 townhouse) and 2/63 First Avenue (3×2 unit) are the street’s larger formats | Property Price Band: $550K–$650K | Value Drivers: renovation quality, secure low-maintenance position, compact layout
Bedrooms
2
Bathroom
1
Parking
1
Land
57m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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