23 Sharpe Avenue, Pegs Creek WA 6714

2-bed 2-bath apartment in a 2012 complex | strong rental yield for coastal WA | flood overlay flagged | complex pricing under pressure This property positions a buyer for strong rental income in a regional market where executive apartments are scarce. The 2-bed, 2-bath configuration with two car spaces and access to a pool and gym is a clear edge over the 1-bed stock in the same complex, which has seen price declines. For an investor targeting fly-in/fly-out tenants or professionals, the rental estimate of $1,585 to $1,750 per week relative to the value range suggests a yield that outperforms standard residential. The modern build age and amenity set reduce maintenance burden, making this a low-touch holding in a market where comparable housing stock is often older or less well-serviced. The flood overlay is the primary risk and must be verified through council mapping and insurance quotes, as it could affect both insurability and resale liquidity. The broader complex data shows negative annual growth on several units, indicating that capital appreciation is not guaranteed and that pricing is sensitive to unit position, parking, and condition. A buyer should confirm exact unit size, strata levies, and whether the parking allocation is secure. The opportunity lies in negotiating from a position of awareness: if the flood risk is manageable and the unit is in good condition, the income stream may justify the purchase even without strong capital growth.