2 Pilgrim Street, South Perth WA 6151
2 Pilgrim Street, South Perth WA 6151
4 bed, 3 bath, 5 car | 616m² lot in South Perth | 273m² internal area | built 1980, no overlays
This property offers a rare combination of generous land size and substantial internal floor area within a sought-after South Perth location, with five car spaces providing a distinct edge for multi-vehicle households or those requiring workshop or storage capacity. The 44% building coverage leaves meaningful outdoor space, and the absence of bushfire, flood, or heritage overlays simplifies due diligence. It is best suited to a family seeking a long-term home with room to reconfigure or extend, or an investor targeting a high-yield rental with strong land-value fundamentals.
The primary risk is the 1980 build age, which may require near-term capital for roof, electrical, or plumbing upgrades, and the minor bathroom discrepancy between listings signals possible unapproved modifications or outdated marketing. The estimated rental yield of roughly 1.7% is low for pure investment, but the land content and location support capital growth. This property should be held for at least seven years to realise land appreciation, or renovated to lift rental income and resale value.
Detailed Independent Property Report prepared by PropCred Analyst team for 2 Pilgrim Street, South Perth WA 6151
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
South Perth is a premium riverside suburb offering exceptional lifestyle and CBD proximity. Demand is driven by downsizers, interstate migrants, and those priced out of eastern capitals, competing for limited stock in a chronically undersupplied market. This has fuelled strong recent price growth across housing segments. Future growth is underpinned by sustained migration and low vacancy rates, though key constraints include declining affordability and a persistent shortage of listings, particularly at entry-level price points.
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PropCred Estimated Value
Bedrooms
4
Bathroom
3
Parking
5
Land
616m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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