23/65 Milligan Street, Perth WA 6000

2 bed, 2 bath unit in central Perth | Heritage overlay area | Large 133m² land size for unit | ~5.4% indicative rental yield This unit presents a competitively strong offering within central Perth’s limited heritage precinct, combining a larger-than-standard land parcel with a dual-bedroom, dual-bathroom configuration that appeals to both owner-occupiers seeking space and investors targeting the professional rental market. Its position near Highgate and Bob Hawke College catchments underpins long-term demand, while the 2008 build offers modern amenities without premium new-build pricing, serving buyers seeking a balance of character and convenience. The primary decision hinges on the heritage overlay, which legally limits alteration potential and may constrain future value growth from renovations. This is partially offset by the lack of environmental overlays, reducing holding cost risks. The commercial logic is clear: secure this property for its current utility and yield, not future redevelopment. Hold it as a long-term rental or primary residence; its configuration supports stable occupancy, but do not purchase expecting significant capital gains from physical improvement.